Boutique fund house Cartesian Capital Partners is to shut down next year, with two of its three portfolios to be merged into Sanditon Asset Management offerings.
Cartesian was launched in December 2005 as a joint venture between the firm and Ignis Asset Management. Cartesian's partners became 100 per cent owners of the business in 2012 as Ignis moved away from a multi-boutique model.
As a result of the closure, the £11m Cartesian UK Opportunities fund is to be merged into the Sanditon UK fund run by Julie Dean (pictured), while the £23m Cartesian UK Absolute Alpha portfolio will be merged into Tim Russell's Sanditon UK Select fund. Both are subject to shareholder approval.
Cartesian's third portfolio, the £2.5m UK Enhanced Alpha fund, is to close, with proceeds returned to investors.
