David Roberts is to retire from fund management in August. This comes after a career of managing fixed income funds and investment teams that began in 1988.
David joined Liontrust in January 2018 along with Phil Milburn and Donald Phillips to create the Liontrust Global Fixed Income team. Since their launch in 2018, David has co-managed with Phil and Donald the Liontrust Strategic Bond, GF Strategic Bond and GF Absolute Return Bond funds. He has also been assisting Phil and Donald in managing the Liontrust GF High Yield Bond fund over the past four years.
David will increasingly step back from investment management over the next few months and reduce his marketing commitments, with Phil and Donald becoming Co-Heads of the Liontrust Global Fixed Income team. Phil will be responsible for macro-economic analysis, while he and Donald will continue to co-manage the four funds.
“I have had a fantastic career and feel privileged to have been able to invest in fixed income markets for so many years on behalf of clients,” said David Roberts. “This is a good time for me to retire and for Phil and Donald to take advantage of the investment opportunities ahead without me.
“We have been through a period in which central banks have impacted fixed income markets to an extent that has never been seen before. But now we are entering a new cycle in which yields are rising and there is greater value in bond markets.
“As a fixed income team, we have been talking over the past six months about positioning the funds for this cycle and the portfolios are therefore in a good shape to benefit. The clients are in safe and very good hands in Phil and Donald.”
Phil said: “It has been fantastic to have worked with David for the past 18 years and to have known him since 1997. I am proud of what we have achieved together. It will be great to be able to call on David’s views and insights over the next six months.
“Donald and I are excited about this new cycle for fixed income markets and the opportunities this presents for our funds and therefore investors.”
John Ions, Chief Executive of Liontrust, said: “I want to thank David for establishing a strong global fixed income team at Liontrust and being a careful and dedicated custodian of investors’ money, not just at Liontrust but throughout his career.
“David has been one of the leading bond fund managers for the past couple of decades and we wish him all the very best for his retirement.”
David joined Liontrust in January 2018 from Kames Capital where he was Head of Fixed Income and co-managed Strategic Bond and Investment Grade Bond strategies as well as being in charge of overall team strategy and fund management.
In a career that started in 1988, David has also worked at Britannia Investment Managers and the Treasury Department at Lloyds Bank.