Liontrust global head of fixed income David Roberts is set to retire from the investment industry after a career spanning 34 years.

The fixed income specialist will retire from fund management in August and will begin stepping back from his role over the coming months.

Roberts(pictured) joined Liontrust in January 2018 to establish the asset manager's global fixed income team alongside Kames Capital colleague Phil Milburn and former Baillie Gifford manager Donald Phillips.

Phillips and Milburn will split Roberts' role between them on his departure, becoming co-heads of the Liontrust global fixed income team.

Milburn will be responsible for macro-economic analysis, while he and Phillips will continue to co-manage the Liontrust Strategic Bond, GF Strategic Bond, GF Absolute Return Bond and Liontrust GF High Yield Bond funds.

Roberts said: "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.

"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."

"This is a good time for me to retire and for Phil and Donald to take advantage of the investment opportunities ahead without me."

Milburn added: "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."   

Chief executive of Liontrust John Ions 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."