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Argonaut looks at developed fund for Bennett

Argonaut is looking at launching a developed market equity fund for manager Greg Bennett.

Bennett joined Argonaut as a senior fund manager in January from Marlborough Fund Managers, where he ran the £23m Marlborough UK income and growth fund from 2010 until 2011.

He previously worked at Neptune from 2004 to 2005, where he ran the £434m Neptune US opportunities fund and the £24m Neptune UK equity fund.

This month, Argonaut announced it will become operationally independent from Ignis on July 14 and confirmed it has hired former Neptune head of strategic partners John Lester and his team Dennis Pellerito and Andrew Nickson, as revealed by Money Marketing in April.

Lester joins as head of distribution, Pellerito as head of intermediary sales and Nickson as sales support executive.

Lester says: “Bennett has experience running US and UK money. We may launch a fund for him in the future.”

Lester says the firm is currently running a paper portfolio, but refuses to disclose the details of the fund.

City Asset Management research director James Calder says: “It is commendable that Argonaut is growing the business, which is difficult in this economic environment.”

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