Ignis Asset Management is reducing its stake in its retail joint venture Argonaut Capital Partners, Financial Times reports. The asset management group will trim its interest to a minority stake to concentrate on internal capabilities for institutional fixed income.
The European equity boutique is managed by Barry Norris and Olly Russ, who will now build their own distribution, marketing and investment teams. Presently, the managers receive half of the revenue from Argonaut, while Ignis gets the other half and provides support in distribution, marketing, risk analysis and investment.
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