Aegon Asset Management fund manager Phil Milburn is stepping down from his role as co-manager of the group’s £197m ethical bond fund to focus on his strategic and high yield mandates.
Co-manager of the ethical bond fund, Iain Buckle is remaining in the role, and the group is also promoting Euan McNeil, currently an analyst on the fund, as a co-manager.
McNeil is also being named as a co-manager of the Aegon investment grade bond fund with David Roberts.
The group says the changes, effective from January 1, 2011, are “in recognition of the input both Buckle and McNeil have had into Aegon Asset Management’s UK and Dublin based retail funds”.
Milburn has been sole manager of the £309m Aegon high yield bond fund since October 2003 when he took it over from Stephen Snowden who left to join Old Mutual Asset Managers. It reports top-quartile returns over the past five years of 38.8 per cent.
He is also co-manager of the £387m Aegon strategic bond fund, which reports top-quartile five-year returns of 29.3 per cent.