Ignis severs Maia partnership.

Financial Adviser | July 9, 2009 | Copyright

Byline: Joy Dunbar

Ignis and Maia Capital Partners have mutually agreed to terminate their joint venture operation.

As a result, the Growth, Balanced and Cautious multi-manager funds will be brought in-house by Ignis.

The decision was made in light of tough market conditions for asset gathering and increasing pressure on margins arising from the distribution of funds of funds products, according to Ignis.

The asset manager said these factors had made the continuation of this joint venture economically unviable for both Ignis and Maia ...

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