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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.


No keyman is an island

Last week, I looked at the importance of owner/managed businesses having sufficient life and critical-illness cover to provide liquidity either to maintain loan repayments or to clear outstanding debts in the event of the death or critical illness of a key contributor to income and profit.

Conflation conundrum

Interest rates have gone even lower this month as the authorities work hard to dig the UK economy out of its problems. The rapidity of economic changes and forecasts for potential incomes in recent weeks has added to the myriad of different issues and scenarios intermediaries need to assess when trying to advise clients in an already difficult environment.

OPM set for testing times

OPM Fund Management is using exchange traded funds to short the FTSE 100 and S&P 500 in its equity-focused multi-manager funds and anticipates renewed lows on the markets this year.

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Company sick pay – new findings

Research by insurer LV= suggests that some 11 million employees in the UK have no company-paid sick leave entitlement. So if an employee from within the above grouping cannot work through illness or injury for any period of time, their only income would likely be that provided by state benefits alone.


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