Argonaut set to break away from Ignis

Investment Week understands Ignis will retain a financial interest in the European equity-focused boutique, as it did with Hexam. Currently, the business is structured as a 50/50 joint venture between the managers and Ignis. Barry Norris and Olly Russ will continue to head up the Argonaut funds - consisting of European Alpha, European Absolute Return, European Enhanced Income and European Income - and are expected to hire staff to take responsibility for the boutique's distribution and back office operations. Within the range, the £326m European Alpha fund is one of the top performing...