Bryan Collings will no longer be managing partner of Hexam Capital, the boutique he co-founded with Ignis Asset Management in 2006, as he concentrates on turning his fund performance around.
In the past three years, the IM Hexam Global Emerging Markets fund has fallen by 33.2 per cent, compared with a fall of 1.7 per cent for the IMA Global Emerging Markets sector, according to FE Analytics.
Stuart Richards, managing partner at Hexam, said the decision was mutual and had been made several months ago.
We felt, and Bryan felt, his time would be better spent concentrating on performance rather than running the business,” he said.
“He is 100 per cent per cent committed to the investment side.”
Ignis continues to hold a 35 per cent passive stake in the business, where Mr Collings will no longer sit on the management committee.