Kames ups charge on Milburn’s High Yield Bond fund

Kames Capital has increased the annual management charge on its £485m High Yield Bond fund from 1% to 1.25%.

The group said the change was being done to reflect the resources needed to run the fund, as well as bring it in-line with other offerings in the sector.

Kames added the increase will also bring the fund into line with its other bond products.

Steve Kenny, the group's head of retail sales, said: "We have made these changes after very careful consideration and following a review into the cost of the research and resources needed to run such a successful fund.

"The charges now are still very competitive and bring this fund into line with the charging structures of our competitors and with similar funds within the Kames Capital range.'

The fund, which is co-managed by Phillip Milburn and Melanie Mitchell, is top of the IMA £ High Yield sector over five years.

The fund has returned 25.2% over five years, beating the sector average of 12.8%.