Hexam Capital Partners, the $1bn (€789m) emerging markets boutique founded four years ago as a joint venture with Ignis Asset Management, has gone independent in an effort to resolve tension between the two companies' strategies.

Hexam was founded in July 2006 as part of Ignis's strategy to set up joint-owned specialist fund boutiques. Ignis owned half of the business, and the remaining half was split between Hexam's fund managers Bryan Collings, Stuart Richards, Marina Akopian and Grant Shotter.