Bringing you live news and features since 2006 

Argonaut Barry Norris

Barry Norris assumes full ownership of Argonaut Capital

RELATED TOPICS​

Argonaut Capital founder Barry Norris (pictured) has assumed full ownership of the specialist European equity asset manager, subject to completion via a scheme of arrangement and regulatory approval.

Formed as a joint venture between the Argonaut founders and Britannic Asset Management (later known as Resolution then Ignis) in 2005, a passive minority stake in Argonaut was retained by Standard Life Investments following its acquisition of Ignis in 2014. Following completion of the deal, both SLI and Oliver Russ will exit the business.

Norris says Argonaut will flourish as a fully independent business, with the firm’s strong long-term track record built upon its distinct ‘earnings surprise’ investment process.

“This ownership agreement demonstrates my belief in Argonaut and my long term personal commitment to the business, our people and our unitholders,” Norris says. “Our passion and conviction in our investment process and our ability to meet our clients’ needs has been and will continue to be the central driver of Argonaut’s success.”

Today’s agreement also provides an opportunity for Argonaut to focus on the fast-growing core of its business, its top-performing European Alpha, pan-European Alpha and Absolute Return franchises – which now constitute more than GBP1.1 billion of assets under management. Accordingly, Liontrust has agreed to acquire Argonaut’s GBP169 million European Income and GBP131 million Enhanced Income funds, with manager Oliver Russ moving to the group.

In addition, Argonaut Capital is pleased to announce the further strengthening of its corporate governance, with the appointment of Sanlam CEO Jonathan Polin as Chairman. Polin played an instrumental role in founding Argonaut alongside Norris while at Britannic.

“I have a long association with Argonaut and am extremely pleased to witness its strong growth, particularly since the business became operationally independent,” Polin says. “Argonaut’s investment process has proven the test of time and this move will allow the group to continue to invest in its investment team and distribution capabilities.”

Argonaut last year added two analysts to its investment team, which is managed by Greg Bennett. Bennett has been co-manager on the firm’s European Alpha, pan European Alpha and Absolute Return strategies alongside Norris for the last four years. Bennett says focusing on ‘earnings surprise’ investment philosophy distinguishes Argonaut from the vast majority of fund managers.

“We have broadened our investment team through recent hires and will continue to deepen our talent pool of analysts capable of identifying earnings surprise.”

The transition of Argonaut’s European Income and Enhanced Income funds is expected to be completed in early June 2016. 

“We feel it is important that our Income fund unitholders can have the opportunity to remain invested with Oliver, with minimal disruption,” Norris says. “We wish Oliver success for the future and all the best in building his income franchise on the Liontrust platform.”

Latest News

Morningstar has published a review of the European ETF market for the first quarter 2024, which finds that it gathered..
ETF data consultant ETFGI reports that assets invested in the global ETF industry reached a new record of USD12.71 trillion..
Calastone has published an ETF white paper which examines several of the processes that take place across the lifecycle of..
Adapting product lines to fit into changing methodologies and meet shifting demand is essential to remaining relevant in the industry..

Related Articles

Kristen Mierzwa, FTSE Russell
Index Investments Group (IIG), a division within index provider FTSE Russell, has extended its range of indices through two new...
ETFs
US ETF issuers of active ETFs are facing an increase in fees from the big custodian firms, such as Charles...
Taylor Krystkowiak, Themes ETFs
Themes ETFs opened its doors in December 2023, with an introductory suite of 11 ETFs – seven thematic and four...
Konrad Sippel, Solactive
At the end of March, financial index specialist, Solactive, published its 2024 annual report on future trends.  ...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by