As Milford has grown, our investment team has continued to develop significant breadth, depth and expertise across asset classes, markets and locations to a team of over 30 professionals. As part of the natural evolution of our investment team, the portfolio manager roles in four of our investment funds will be transitioning from 1 April 2021.
Diversified Income Fund
Paul Morris will become the lead Portfolio Manager for Milford’s Diversified Income Fund. Since Paul joined Milford in February 2016, he has worked closely with the current Diversified Income Fund Portfolio Manager David Lewis and been Co-Manager of the Diversified Income Fund since September 2019.
This Portfolio Manager transition will not impact the style of management or the strategy of the Fund.
David Lewis is taking the opportunity to focus on family and some planned personal projects. David informed Milford of his plans to change focus some time ago, allowing ample time to develop an optimal transition plan.
Over the past 8 years, David has made a significant contribution to both the Milford business and our client outcomes and has managed a number of top-performing funds. As a senior member of the investment team, David has been a key driver of the development of expertise and culture within our team over this time. He has also supported broader business leadership and strategy including a time on Milford’s Executive Leadership Team. David remains passionate about the business and will continue to be a shareholder of Milford.
While the Portfolio Manager responsibilities will formally transition from 1 April, David will remain at Milford until 30 June 2021.
To support Paul, from 1 April the new Co-Manager of the Diversified Income Fund will be Dan Simmonds, with David also working in a Co-Manager capacity alongside Dan until 30 June. Dan joined Milford in 2019, working closely with David on the Diversified Income Fund and is based in our Sydney office. Dan brings over 13 years funds management experience to this role, including 7 years with RARE Infrastructure as Portfolio Manager and Senior Investment Analyst.
Trans-Tasman Bond Fund and Global Corporate Bond Fund
As Paul Morris transitions to lead Portfolio Manager of the Diversified Income Fund, he will step back from current Portfolio Manager responsibilities for the Trans-Tasman Bond Fund and the Global Corporate Bond Fund.
After an extensive global search, we are pleased to announce the appointment of Travis Murdoch to our Fixed Income team. Travis will become Portfolio Manager for Milford’s Trans-Tasman Bond and Global Corporate Bond Fund from 1 April.
Travis has extensive experience as a Fixed Income Portfolio Manager and is relocating back to New Zealand from London. Prior to joining Milford, Travis has worked for a range of leading global financial institutions including Legal and General Investment Management, J.P Morgan and RBC Capital Markets.
Paul will move to Co-Manager, alongside Ian Robertson, for both the Trans-Tasman Bond and the Corporate Bond Funds post 1 April.
In line with the Bond funds Portfolio Manager responsibility transitions, Travis Murdoch will take over Portfolio Manager responsibilities for the Cash Funds (Investment Fund and KiwiSaver) from Paul Morris from 1 April. Katlyn Parker will remain as Co-Manager for the Cash Funds.
Paul will also continue to be Portfolio Manager of Milford’s Conservative Funds.
While changes are a part of any growing business, the depth and diversification of experience continues to position the investment team strongly to manage your funds well.