Mr Foster, one of the best known names in fixed income, is retiring after 16 years with the firm.

Mr Foster and Mr Ralph have been co-managers of the £1.8bn Artemis Strategic Bond Fund. 

Mr Foster has also co-managed the £700m Artemis Monthly Distribution Fund and Mr Ralph has managed the £920m Artemis High Income Fund.

Artemis says that their successors are a combination of, “existing and new resources.”

Stephen Snowden, who joined Artemis in 2019 with five colleagues from Kames to manage new fixed income mandates, has become Artemis’ new head of fixed income.

To focus on managing Strategic Bond, alongside Juan Valenzuela from Stephen’s team, Rebecca Young will join Artemis in November from Janus Henderson. She has been a portfolio manager for the Strategic Fixed Income team at Janus Henderson, led by John Pattullo and Jenna Barnard. She was co-manager of the Janus Henderson Preference & Bond Fund before becoming co-manager of the Janus Henderson Horizon Strategic Bond Fund.

David Ennett and Jack Holmes, also from Mr Snowden’s team, have become the managers of High Income, alongside Ed Leggett who continues to manage the fund’s equities. 

Stephen Baines, also from Mr Snowden’s team and already co-manager of Artemis’ Global High Yield funds, has become the manager of the bond element of Monthly Distribution Fund. As co-manager, Jacob de Tusch-Lec continues to manage the Monthly Distribution equities.

Artemis’ senior partner, Mark Murray, said: “After their long and loyal service, we thank James and Alex for their contribution and wish them well. We are delighted to have recruited in Rebecca a manager of such demonstrable ability. Her skills will complement those of Stephen and his colleagues; and we are confident that, alongside our equity offerings, we are continuing to build a market-leading set of fixed income products to meet our clients’ evolving needs.”