UPDATE: Ignis confirms Argonaut split

Founding partners Barry Norris and Olly Russ will take management control, owning 60% under the new structure with Ignis reducing its equity stake from 50% to 40%. Argonaut will run as an independent business, under a single brand and with dedicated management. It will expand its investment team and management resource and develop its own UK distribution capability. Ignis will continue to distribute Argonaut's funds in Continental Europe. Norris and Russ will continue to head up the Argonaut funds, consisting of European Alpha, European Absolute Return, European Enhanced Income and Eu...