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Argonaut launches European absolute return fund

Ignis Asset Management joint venture Argonaut has launched its European absolute return fund under the management of Barry Norris

The fund, which was originally set to launch in September, is a high conviction portfolio that will target double digit returns per annum by investing in 50 long and short equity positions.

The fund also has a 20 per cent performance fee on returns in excess of 5 per cent.

Sitting in the IMA absolute return sector, the fund has a 5.25 per cent initial charge with AMC set at 1.5 per cent.

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