A boutique investment house co-founded by Lord Jacob Rothschild in 2006 is winding down, ending a difficult five years for the firm.

Charles Martyn-Hemphill and Will Kenney, co-managers of Spencer House Capital Management's flagship $205m Global Equity Fund, a Dublin-domiciled UCITS vehicle, will join JO Hambro, an investment firm owned by Credit Suisse, in February. Assets in the Global Equity Fund have halved since 2008, down from $470m.