Standard Life Investments has appointed David Ennett as lead manager of its Higher Income fund, following a regular review.
The review saw the reorganisation of resource within its high yield team, with deputy manager Ennett taking over from Arthur Milson, who will take Ennett’s role.
The move has seen Old Broad Street Research (OBSR) suspend the fund’s A-rating.
A spokeswoman says: “Over the last couple of years this team has seen an increase in both assets and mandates under their management, as well as in members.
“In addition, we have developed a global credit offering which involves close cooperation between our Edinburgh and Boston credit teams. The recent changes reflect our continued desire to ensure we operate with maximum efficiency.”
Former Old Mutual manager Ennett currently manages the Euro High Yield Sicav and high yield portfolios within its Select Income and Strategic Bond funds.
The four-strong high yield team in Edinburgh will continue to work closely with the six members of the high yield team in Boston and its wider credit team.