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On 28th October 2024, abrdn announced that Ben Pakenham, Head of European High Yield and Global Loans, and manager of the abrdn High Yield Bond fund, will be leaving the firm after a short transition period. The fund features on our Recommended list.
Mr Pakenham will transition his responsibilities over the coming weeks and will cease to manage the portfolio by the end of November 2024. abrdn has announced the hire of Steve Logan, who is rejoining the firm as Head of European High Yield and Global Loans. Mr Logan brings over 30 years’ credit investment and leadership experience, including at abrdn and its predecessor companies between 2001 and 2020.
We have met Mr Logan in the past, as he was abrdn’s Head of Euro Yield and manager on this fund before his departure in 2020. Based on our knowledge of the manager, the well-resourced team and established investment approach, we are retaining the Recommended status of the fund for the time being, and we will be conducting a full review on this proposition in the coming weeks.
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