Argonaut drops Ignis as fund administrator
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Argonaut Capital Partners has dropped Ignis Asset Management as the administrator of its fund range and appointed IFDS to take over the role.
In August, Argonaut became operationally independent from Ignis, which was a partner in the joint-venture. Argonaut increased its 50% equity stake to 60%, while Ignis reducing its stake from 50% to 40%.
This week, Argonaut announced it has appointed IFDS to take over the administration of the fund range from July 16.
The £269m Ignis Argonaut European Alpha fund will be renamed the IM Argonaut European Alpha fund and the £292m Ignis Argonaut European Income fund will be renamed the IM Argonaut European Income fund. The £57m Ignis Argonaut European Enhanced Income fund will become the IM Argonaut European Enhanced Income fund and the £7.5m Ignis Argonaut European Absolute Return fund will be renamed the IM Argonaut European Absolute Return fund.
Argonaut was founded in 2005 and currently has £1.1 billion of funds under management.
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