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Britannic gets full marks

Britannic Asset Management

Argonaut European Alpha Fund

Type: Unit trust

Aim: Growth by investing in European equities excluding the UK

Minimum investment: Lump sum 500, monthly 50

Investment split: 100% in European equities excluding the UK

Isa link: Yes

Pep transfers: Yes

Charges: Initial 5.25%, annual 1.75%

Commission: Initial 3%, renewal 0.5%

Tel: 0845 60 50 444

Britannic Asset Managements Argonaut European alpha fund is a unit trust investing in a concentrated portfolio of European stocks excluding the UK.

Highclere Financial Services partner Alan Lakey says: “This is a beguiling new fund from Britannic based around the stockpicking strategy of proto-star manager Barry Norris.”

Lakey points out that Norris and his colleague Oliver Russ recently worked for Neptune Asset Management, where Norriss European opportunities fund was a top fund over one and two years.

“The literature confirms this as a higher risk growth focused fund which is available in an Isa and Pep transfer format,” says Lakey. He feels the commission is typical for a fund of this type but adds: “The charges, at 5.25 per cent initial and 1.75 per cent annual, are above average although not unusual for a focused fund.”

Considering the potential drawbacks of the fund Lakey says: “It will stand or fall on the skills of Norris and Russ. The Neptune fund managed by Norris was relatively small at 27m and this type of fund, with its small stockholding process, may not prove sustainable if the new fund becomes too large.”

In Lakeys view competition will be provided by Artemis European growth, Jupiter European and Merrill Lynch European dynamic. He concludes: “This fund may prove an outstanding opportunity to jump aboard a Euro express fund which is likely to prove a lucrative and exciting ride.”


Suitability to market: Good
Investment strategy: Good
Charges: Average
Adviser remuneration: Good

Overall 10/10


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