Ignis shelves joint ventures to focus on own growth

Jonathan Polin, sales and marketing director at Ignis Asset Management, says the company is unlikely to expand its joint venture business as it focuses on growing its own fund business.

Jonathan Polin
Jonathan Polin

Ignis has been known for its boutique joint ventures in the past few years, having done deals with Argonaut, Cartesian, Hexam and Maia.

The Maia multi-manager arm has since been disbanded, with the funds being brought under the internal management of Simon Mungall, while Hexam raised its stake in its joint venture to 65% while taking sole charge of admin, distribution and operational costs earlier this year.

Polin says: “I would say that the further expansion of our joint-venture strategy is unlikely although I would not rule out another one if a fantastic opportunity came our way. (article continues below)

“What we want to do now is build the distribution capability of our internal arm where we feel we have a strong fixed income and property team in particular.”

Polin says the company is looking to bolster both its fixed income and absolute return fund ranges.

He says: “Fixed income will continue to gain traction as people move out of defined-benefit schemes and with-profits while absolute return funds will continue to grow despite a difficult time recently.”