The UK investment house has named a new head of high yield as it welcomes back one of its investment managers and says goodbye to another.

Kames Capital has appointed David Ennett to lead its high yield team as Phil Milburn returns to the company to become head of investment strategy.

Ennett joins from Standard Life Investments where he was head of European high yield and manager of the SLI Higher Income and European High Yield funds. He will join the company in September.

He will co-manage the Kames High Yield Bond and Kames High Yield Global Bond funds alongside the current co-manager, Milburn, who will be returning to Kames later this year following his period of absence due to ill health.

The other co-manager of the funds, Claire McGuckin, who joined Kames in 2012, has left the company. In the interim, David Roberts, Kames' head of fixed income, will be responsible for Kames’ high yield funds, supported by Stephen Baines.

Ennet will report to Roberts. 

“David is very experienced in the high yield market and we believe his investment philosophy is very much in line with that of Kames Capital,” said Roberts.

“I am also delighted Phil will be returning to the business in H2 after his period of absence. He will return as head of investment strategy, working with David to shape our high yield propositions and continuing to be the lead manager on both our wholesale high yield funds as well as his role as co-manager on both our strategic bond funds.”

From Edinburgh and London, Kames Capital managed £57.8 billion on behalf of clients including financial institutions, wealth managers, family offices and financial advisors as at the end of March 2016.