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Argonauts set sail into European waters

Argonaut, the boutique fund management arm of Britannic Asset Management, has introduced its first fund.

The European alpha fund will be run by Barry Norris and Oliver Russ, who left Neptune’s European opportunities fund earlier in the year. It aims to deliver high alpha returns from a concentrated portfolio of between 30 and 50 stocks.

The fund will not be constrained by a benchmark.

It is likely to be the first of several funds to be managed by Norris and Russ under the Argonaut banner. Future products under consideration include a pan-European fund and a long/short European hedge fund.

Britannic sales and marketing director Jonathan Polin says the fund managers will be able to manage funds with complete autonomy.

Britannic is looking to introduce a number of multi-specialist products using a similar collaborative approach where it provides managers with the infrastructure and distribution platform to run money.

Polin says: “This is very much complementary to what we are already doing with our core European offerings. We will be making changes where they need to be made to improve performance as and where necessary.

“The launch of this fund is a natural progression of our multi-specialist strategy and this is certainly not the last of this type of fund we will be launching.”

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