Dalton Strategic, a fund manager set up by former Mercury Asset Management staff and led by Andrew Dalton, has formed its second partnership with an asset management firm. The tie-up gives Dalton exposure to natural resources investments after a earlier venture in the sector expired.

Dalton, which already has a partnership with FuNNeX Asset Management in Japan, has this month tied up with Canada's Interward Asset Management. A partnership wtih natural resource specialist Craton Capital ended at the beginning of this year.