This letter proposes a new splitting receiver design with joint envelope detection (ED) and coherent detection (CD). To characterize its fundamental performance limit, we conduct high signal-to-noise ratio (SNR) analysis on the proposed ED-CD splitting receiver and obtain closed-form approximations of both the achievable mutual information and the optimal splitting ratio (i.e., a key design parameter of the receiver). Our numerical results show that these high SNR approximations are accurate over a wide range of moderate SNR values, signifying the usefulness of the obtained analytical results. We also provide insights on the conditions at which the proposed splitting receiver has significant performance advantages over the traditional receivers.