Kames to cap Milburn's High Yield Bond fund at £2bn

Kames Capital's bond star Phil Milburn has revealed the onshore High Yield Bond fund he runs with Melanie Mitchell will be capped when it reaches £2bn.

Poor liquidity in the fixed income markets has been a concern among fund managers and investors alike recently as demand for bonds grows and corporates decrease new issuances. Milburn said, as a result of market pressures, the £900m High Yield Bond fund will be capped at £2bn. It will be soft-closed to new investors just before it reaches capacity, to allow existing investors to continue to drip feed and grow with the fund. Mitchell, (pictured), added: "Fund flows in the asset class have been phenomenal over the last couple of years. Although there have been outflows in the last coupl...