Independent fund management group Liontrust Asset Management has wrapped up the purchase of Argonaut Capital Partners’ European income fund management business.
The acquisition was completed on 8 July 2016 when the FP Argonaut European Income Fund and the FP Argonaut European Enhanced Income Fund merged into the Liontrust European Income Fund and the Liontrust European Enhanced Income Fund respectively.
The deal, first announced in April 2016, added £272m of assets under management to Liontrust’s portfolio. At closing, Liontrust's assets under management stood at £5.34bn.
Argonaut founder Olly Russ has now joined Liontrust, and will manage the Liontrust European Income and the Liontrust European Enhanced Income funds.