Hexam Capital Partners is to close majority shareholder Bryan Collings' onshore Global Emerging Markets fund after assets shrunk to an uneconomical level.
The fund, once more than £130m in size, had seen assets under management drop to under £10m by the start of last year following a prolonged period of poor performance. AUM has failed to rebound since. With assets now standing below £5m, the fund will be liquidated in early July. Its last day of dealing was 4 June. Collings will continue to run the original offshore version of the portfolio. The Hexam co-founder now owns more than half the boutique, having bought out Ignis' 35% stake after the Glasgow group's acquisition by Standard Life last year and acquired a further holding from...
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