This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.
X
MM+cover+small+180914
Categories:Investments

Argonaut set to split from Ignis Asset Management

  • Print
  • Comment

Argonaut Capital Partners is set to become operationally independent from Ignis Asset Management, following in the footsteps of previous joint venture boutique Hexam which split off last year.

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.

Managers Barry Norris and Olly Russ will continue to head up the Argonaut funds and staff are expected to be hired to join the boutique.

Ignis chief executive Chris Samuel has previously said the group would not establish any new joint venture boutiques and wanted to focus on its core offering.

Last July, Hexam Capital Partners took sole charge of its admin, distribution and operational costs and raised its 50 per cent stake in its joint venture with Ignis to 65 per cent, with Ignis retaining a 35 per cent stake in the boutique.

Sales and marketing director Polin left Ignis Asset Management in June this year and will join Ashcourt Rowan as group chief executive in September.

A spokeswoman says: “We can confirm that Argonaut and Ignis are in discussions regarding a possible alteration to their partnership arrangements. A further announcement will be made when appropriate. Until that time neither Argonaut nor Ignis will have any further comment to make.”

 


  • Print
  • Comment

Daily Email Updates
If you enjoyed this article, sign up to receive the latest news and analysis from Money Marketing.

The Money Marketing CPD Centre
Build your annual CPD - you can log and plan your CPD hours for free with The Money Marketing CPD Centre.

Taxbriefs Advantage
Advantage is a digital reference source giving unbiased, independent, answers to your technical queries. Subscribe to Taxbriefs Advantage.

Have your sayEdit my profile/screen name

You must sign in to make a comment

Fund Data

Editor's Pick



Poll

Do you think the industry is ready to deliver Budget guidance?

Job of the week

Latest jobs

View all jobs

Most recent comments

View more comments