View more on these topics

Cartesian set to move fund distribution from Ignis

Cartesian Capital Partners is in discussions with Ignis Asset Management to move the distribution of its fund range from Ignis to National Wealth Service, Money Marketing understands.

Ignis currently distributes the £61.4m Ignis Cartesian UK opportunities fund and £40.4m Ignis International Cartesian enhanced alpha fund.

NWS took over distribution of the £34.3m Ignis Cartesian UK equity long/short hedge fund in the summer.

Money Marketing understands Cartesian and Ignis are in talks to hand distribution of the UK opportunities and enhanced alpha funds to NWS by the end of August.

In December 2005, Ignis set up the joint venture with Cartesian founders Andrew Kelly and David Stevenson. Ignis holds a 50 per cent equity stake.

Ignis has recently cut its 50 per cent equity stakes in joint ventures Argonaut Capital Partners and Hexam Capital to 40 per cent and 35 per cent.

Ignis declined to say whether it plans to cut its equity stake in Cartesian. Ignis Partners managing director Ian Paterson Brown says: “In line with Ignis’s strategy on joint ventures, Ignis and Cartesian have been discussing various ways to take Cartesian to the next stage of its development. This includes the possible transition of Cartesian to a more independent structure.”

Cartesian Capital Partners partner Jeremy Hall says: “We are focused on driving returns for clients and are always on the lookout to improve the business.”

Chelsea Financial Services managing director Darius McDermott says: “I think Ignis will continue to support Cartesian until it runs a significant amount of assets.”


Franklin Templeton launches Africa fund for Mobius

Franklin Templeton has launched an African fund for star emerging markets manager Mark Mobius. The offshore Templeton Africa fund has received verbal approval from the Luxembourg regulator, the CSSF. The fund will aim for long-term capital growth by investing in African-listed equities or companies based elsewhere but with principal business activies in Africa. Mark Mobius, […]

IMA consults on fixed income sectors changes

The Investment Management Association has written to member firms to consult on the treatment of asset-backed securities in the fixed income sectors. In a letter from Nicola Kembey, head of sectors at the IMA, seen by Money Marketing, it was revealed that the asset manager trade body is also consulting on the maturity term at […]


FSB slams ‘excessive’ auto-enrolment fines

The Federation of Small Businesses has criticised the “excessive” fines set to be levied on companies that fail to comply with automatic-enrolment rules. Speaking at TheCityUK’s pensions conference last week, FSB policy chairman Mike Cherry said the initial non-compliance fine of £400 is excessive. He said: “We are concerned that employers will be penalised for […]

David Coombs MM blog

Multi-manager view

Is 2012 turning out to be a repeat of 2011? On the surface, yes it is. We have had a rally in risk assets followed by a sell-off, precipitated by the potential for yet another European crisis. At this juncture, Spanish government bond yields have risen and there is discord on the streets of Southern […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment