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Ignis Asset Management will press ahead with plans to create 8-10 joint ventures, despite terminating its Maia Capital Partners boutique last week. Jonathan Polin, the group's sales and marketing director, says another partnership will be announced later this summer.
Maia will be wound down after it failed to generate sufficient assets to become "economically viable". The boutique, which runs three funds of funds, has assets under management of about #90m, most of which came from Ignis's own asset pool.
Its multi-manager portfolios will be transferred to the Ignis in-house fund range. Simon Mungall, one of Maia's partners, will move across to Ignis as its head of multi-manager assets, while a permanent role for Vincent Ropers is under discussion. Chris Ralph and Jason Collins, who co-founded Maia with Mungall, have left the company.
Polin ...