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Annual cost of Phil Milburn's high yield bond fund set to rise

Annual cost of Phil Milburn's high yield bond fund set to rise

Kames Capital will next year raise the annual management charge on Phil Milburn's High Yield Bond fund, bringing the cost into line with its competitors from 1 March 2012.

The change will see the annual management charge for the vehicle increase to 1.25%, up from its current 1% fee.

Kames said the move will bring the cost of the fund into line with some of its key bond fund competitors as well as reflect the level of resources applied to researching and managing the £477 million vehicle.

The Citywire Selection Kames High Yield Bond fund, which is managed by Milburn (pictured) and Melanie Mitchell, has delivered 1.11% over the last year versus -4.5% by the BofA ML Sterling High Yield TR Index.

The fund is currently ranked first quartile and has held this position over one, three and five years as well as since its launch in 2002.

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Philip Milburn
Philip Milburn
1/8 in Bonds - Sterling High Yield (Performance over 3 years) Average Total Return: 38.17%
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