Resolution Asset Management (RAM) will be renamed Ignis Asset Management in November as part of its merger with Axial Investment Management.
Axial is the asset management business of Pearl Group, the British insurer that bought RAM at the end of last year.
Initially Axial Investment Management will keep its own identity, while RAM will adopt the new Ignis name – the Latin word for fire or spark – at the launch of the new company.
RAM’s joint ventures, Argonaut, Cartesian, Hexam and Maia, will not carry the new Ignis name, however, but will continue to operate under their own branding.
RAM says there will be no change to its present range of funds, or the core strategy it follows, as a result of the merger with Axial.
However, product launches under the Ignis name are expected within the next six to 12 months. The most likely launches will focus on alternative investment strategies, such as funds of hedge funds. All funds will be distributed by a single sales and marketing team at Ignis Asset Management.
“Our strategy is going to stay the same,” says Jonathan Polin, sales and marketing director at RAM. “There will be more joint ventures and we will continue to grow our business within the UK retail and third-party institutional market.
“We will also further our distribution in Europe, Asia and the US and bring the specialisation of Axial into a new area.”
Gavin Stewart, RAM’s chief executive, will retain his role at Ignis, becoming chief executive of the enlarged asset management business when the merger is complete.
The combined assets under management of the two groups are about £80 billion.