Managed by Barry Norris, the VT Argonaut Absolute Return Fund uses a simple long/short equity strategy to deliver attractive and positive returns with historically low correlation to equity markets.
This means it invests in its “long book” in stocks with significant earnings upside potential and in its “short book” in stocks with significant earnings downside potential. This combination aims to minimise market risk and maximise alpha generation. Volatility is also managed through flexible market exposure.
A portfolio diversifier with returns that have historically been lowly correlated to equity markets
Distinctive earnings momentum style
Invests exclusively in high conviction single stocks (both long and short) with no complicated derivatives
Hedges market risk through single stock alpha generation in short book
Solid track record of generating positive returns in negative market months and in controlling downside volatility
Hedges foreign currency risk back into currency share classes
For further information on past performance and key investment themes, download the latest Factsheet.
Past performance is not a guide to future performance. The value of shares and any income from them can go down as well as up and is not guaranteed. You may not get back the full amount invested.
This information is for professional clients and investment professionals only and should not be relied upon by retail clients.
Managed by Barry Norris, the VT Argonaut Equity Income Fund’s aims to provide an income in excess of the yield of the MSCI Europe ex UK Index, with long term capital growth.
The VT Argonaut Equity Income Fund is a concentrated portfolio of continental European equities. The fund has a high conviction, best ideas approach to achieving a high and sustainable yield.
Concentrated portfolio of best ideas
Deliver a sustainable and growing dividend
Avoid yield traps
Value orientated
Normally, 100% market exposed
For further information on past performance and key investment themes, download the latest Factsheet.
Merger Update
Please note; On 26th September 2024, Extraordinary General Meetings were held for the investors of (each of) VT Argonaut Equity Income Fund and VT Argonaut European Alpha Fund (together, the Sub Funds). These meetings were held to determine the outcome of a shareholder vote on the proposal (sent to investors on 5th September 2024) for the funds to terminate and the assets to transfer over (by way of Schemes of Arrangement) to launch the VT Argonaut Flexible Fund on the effective date; 11th October 2024.
A quorum of shareholders from both Sub Funds voted in favour 'For' the resolutions by way of overwhelming majority. The Sub Funds therefore remain open for investment until midday, 9th October 2024. Investors remaining in the Sub Funds after this time will be transferred to the VT Argonaut Flexible Fund on 11th October 2024 and will be available for investment from Monday, 14th October 2024 during normal business hours.
Past performance is not a guide to future performance. The value of shares and any income from them can go down as well as up and is not guaranteed. You may not get back the full amount invested.
This information is for professional clients and investment professionals only and should not be relied upon by retail clients.
Managed by Barry Norris, the VT Argonaut European Alpha Fund’s high conviction approach has delivered outperformance.
The VT Argonaut European Alpha Fund is a concentrated portfolio of continental European equities. The fund has a high conviction, best ideas approach to achieving capital growth and aims to significantly outperform the MSCI Europe ex UK stock market index.
Concentrated portfolio of best ideas
Distinctive earnings momentum style
Normally, 100% market exposed
Long-term track record
Diversifier from traditional “growth” or “value” strategies
For further information on past performance and key investment themes, download the latest Factsheet.
Merger Update
Please note; On 26th September 2024, Extraordinary General Meetings were held for the investors of (each of) VT Argonaut Equity Income Fund and VT Argonaut European Alpha Fund (together, the Sub Funds). These meetings were held to determine the outcome of a shareholder vote on the proposal (sent to investors on 5th September 2024) for the funds to terminate and the assets to transfer over (by way of Schemes of Arrangement) to launch the VT Argonaut Flexible Fund on the effective date; 11th October 2024.
A quorum of shareholders from both Sub Funds voted in favour 'For' the resolutions by way of overwhelming majority. The Sub Funds therefore remain open for investment until midday, 9th October 2024. Investors remaining in the Sub Funds after this time will be transferred to the VT Argonaut Flexible Fund on 11th October 2024 and will be available for investment from Monday, 14th October 2024 during normal business hours.
Past performance is not a guide to future performance. The value of units and any income from them can go down as well as up and is not guaranteed. You may not get back the full amount invested.
This information is for professional clients and investment professionals only and should not be relied upon by retail clients.
Argonaut Capital Partners LLP (Argonaut) is merging the VT Argonaut European Alpha Fund (‘Alpha Fund’) and VT Argonaut Equity Income Fund (‘Income Fund’) into a new global fund, the VT Argonaut Flexible Fund (‘Flexible Fund’).
The Flexible Fund will sit in the Investment Association (IA) Flexible sector and will be a long-only strategy combining Argonaut’s high conviction global equity portfolio with greater flexibility for tactical allocations to government bonds, cash, and precious metals as diversification tools to mitigate volatility and/or enhance returns.
The Flexible Fund’s equity exposure will vary according to market conditions but is expected to be 50-80%. Its geographic scope will be global, with a focus on developed Pan-European and North American assets. Unlike the VT Argonaut Absolute Return Fund, which is a long/short strategy, the Flexible fund will not short stocks, nor will it use leverage.
The objective of the Flexible Fund will be to deliver capital appreciation (and income) over the long term via an active, fundamental investment approach and a concentrated portfolio of equity investments whilst using its non-equity exposure to mitigate risk of capital loss over the economic cycle.
EGM held on 26th September 2024
Extraordinary General Meetings were held for the investors of (each of) VT Argonaut Equity Income Fund and VT Argonaut European Alpha Fund (together, the Sub Funds). These meetings were held to determine the outcome of a shareholder vote on the proposal (sent to investors on 5th September 2024) for the funds to terminate and the assets to transfer over (by way of Schemes of Arrangement) to launch the VT Argonaut Flexible Fund on the effective date; 11th October 2024.
A quorum of shareholders from both Sub Funds voted in favour 'For' the resolutions by way of overwhelming majority. The Sub Funds therefore remain open for investment until midday, 9th October 2024. Investors remaining in the Sub Funds after this time will be transferred to the VT Argonaut Flexible Fund on 11th October 2024 and will be available for investment from Monday, 14th October 2024 during normal business hours.
The new units issued will have the same acquisition cost and acquisition date for the purposes of tax on capital gains as your existing units and will not therefore give rise to a capital gains charge.
Please note that should you choose to redeem or switch your units prior to the Merger, a redemption or switch will be treated as a disposal of shares for tax purposes, and you may be liable to capital gains tax on any gains arising from the redemption.
Reasons for Merger
The key reasons for the merger of the Alpha Fund and Equity Income Fund into the Flexible Fund are investment related.
We believe a global mandate (rather than one restricted to Europe-ex-UK) and the widening of the manager’s discretion to be able to invest in non-equity instruments will enhance the overall investment proposition for current and prospective unit holders, producing superior absolute and risk-adjusted returns over the long term.
We have back-tested the returns over two decades for this strategy using a 2/3rds fixed allocation to Argonaut’s flagship fund equity portfolio together with a fixed allocations to T-Bills, Cash and Gold. The results are compelling – see below for both the data and our methodology.
Background
Argonaut launched in 2005 with the aim of generating alpha from active, fundamental, and unconstrained equity investing, with a focus on European equities. Over time and with the launch of the flagship VT Argonaut Absolute Return Fund, our investment universe has broadened to Global, incorporating the world’s largest and most liquid stock markets in the United States.
Our experience convinces us that Argonaut’s idea generation process – an evolution from over two decades of accumulated wisdom, learning from mistakes and refinements to process – shouldn’t be constrained to a narrow geographical universe which restricts opportunities based on legacy design.
The performance of the long/short VT Argonaut Absolute Return Fund and the opportunities identified outside of Europe since it moved to a less restrictive geographical mandate bear this out and we are keen for Argonaut’s long-only franchise to similarly benefit from a larger, more liquid stock universe and all of our best ideas. Importantly, however, the Flexible Fund will still be permitted to invest in every European stock the legacy funds currently own.
In addition to the investment advantages, the merger is expected to reduce overall costs for existing unit holders while there will be operational benefits also with all Argonaut funds utilising the same investment universe. Post merger, Argonaut will have two strategies – the long/short VT Argonaut Absolute Return Fund and the long-only VT Argonaut Flexible Fund.
In his epic 3rd century poem, Apollonius of Rhodes, recalled the Argonauts leaving the Aegean Sea and to travel to a remote corner of the known world in the Black Sea in search of the Golden Fleece. We believe a similarly outward-looking mindset and spirit of derring-do – expressed through a flexible global mandate – can deliver even better outcomes for clients in the coming years.
Argonaut Capital Partners October 2024
Simulated Annual Performance (%)
Data to 31-Jul-24
Argonaut Flexible Fund
EURO STOXX NR
IA Flexible Investment
Nov to Dec 02
-1.9
-1.6
-1.5
2003
18.5
30.6
22.2
2004
20.8
12.8
10.5
2005
26.5
22.1
24.2
2006
22.0
20.6
10.2
2007
10.1
17.0
6.1
2008
-10.7
-27.1
-26.0
2009
18.8
17.3
24.7
2010
12.2
-1.0
14.9
2011
-5.5
-17.4
-8.5
2012
10.4
15.9
10.3
2013
28.9
26.9
14.8
2014
10.6
-2.9
4.8
2015
14.7
4.8
2.1
2016
-6.4
20.6
14.2
2017
11.4
17.0
11.1
2018
-11.1
-11.8
-6.6
2019
21.1
19.1
15.6
2020
6.3
5.9
7.0
2021
5.1
15.1
11.4
2022
4.2
-7.3
-9.1
2023
8.7
15.8
7.3
2024
12.5
5.6
6.6
Return
673.3
436.1
330.9
CAGR
9.9
8.0
6.9
Volatility
11.0
14.4
11.5
Correlation to European Equities
0.7
0.9
Source: Argonaut Capital Partners LLP
*Simulated Track Record Methodology
Equity exposure: As the new fund will – like the VT Argonaut Absolute Return Fund (AR Fund) – be able to invest in the US as well as Europe, we have taken the equity “asset” return as the monthly return on the long book of the AR fund grossed up or down to 100%*. In order to incorporate dynamic allocation based on historic behaviour, we have used two rules for monthly weighting to “equities”:
It should always be 2/3rds of the AR fund allocation as a % of NAV. i.e. if AR fund is 100% exposed then the Flexible fund is 66.6% exposed
The equity exposure of the Flexible fund should have a maximum soft limit of 80% (only relevant if AR fund long exposure is over 120%)
Equity returns prior to the launch of the VT Argonaut Absolute Return Fund were taken from the long only European equity funds managed by Barry Norris at the time.
Source of equity returns as follows:
Nov-02 to May-05 Neptune European Opportunities Fund
May-05 to Feb-09 VT Argonaut European Alpha Fund
Feb-09 to date VT Argonaut Absolute Return Fund
Non-Equity Exposure: Bond exposure calculated using a fixed exposure of 10% of NAV, using US Treasury Bills (unhedged). Gold exposure calculated using a fixed exposure of 10%, using the WisdomTree Physical Gold ETF. Cash is calculated as the residual of the allocation to the other 3 asset classes above, using the Barclays Benchmark Overnight GBP Cash Index.
Simulated Performance Since Inception (%)
Source: Argonaut Capital Partners LLP. VT Argonaut Flexible Fund Simulated track record methodology: Equity exposure calculated as 2/3rd of the VT Absolute Return Fund gross long book exposure, with a maximum soft limit of 80% (only relevant where AR long exposure is greater than 120%), using the long book return of the VT Argonaut Absolute Return Fund grossed up or down to 100%. Prior to the launch of the VT Argonaut Absolute Return fund, returns are taken from the long only European equity funds managed by Barry Norris at the time. Bond exposure calculated using a fixed exposure of 10% of NAV, using US Treasury Bills - Unhedged (S&P Treasury Bill Total Return Index – ticker SPBDUBIT Index). Gold exposure calculated using a fixed exposure of 10%, using the WisdomTree Physical Gold ETF (BB ticker PHAU LN). Cash is calculated as the residual of the allocation to the other 3 asset classes above, using the Barclays Benchmark Overnight GBP Cash Index (BB ticker BXIIBGBO Index). See above for further detail.
VT Argonaut Flexible Fund Asset Allocation – Simulated
VT Argonaut Flexible Fund Simulated asset allocation methodology: Equity exposure calculated as 2/3rd of the VT Absolute Return Fund gross long book exposure, with a maximum soft limit of 80% (only relevant where AR long exposure is greater than 120%). Bond exposure calculated using a fixed exposure of 10% of NAV, using US Treasury Bills (unhedged). Gold exposure calculated using a fixed exposure of 10%, using the WisdomTree Physical Gold ETF. Cash is calculated as the residual of the allocation to the other 3 asset classes above, using the Barclays Overnight GBP Cash Index. Equity exposure includes all equity related instruments. All sources, unless otherwise stated, are Argonaut Capital, Bloomberg & Morningstar. All data shown as at 31 July 2024. Asset allocation data prior to the launch of the VT Argonaut Absolute Return Fund (Feb-09) taken from the long only European equity funds managed by Barry Norris at the time, namely the Neptune European Opportunities Fund from Nov-02 to May-05 and the VT Argonaut European Alpha Fund from May-05 to Feb-09.
For further information, download the latest Factsheet.
All Argonaut funds use the same investment process to select stocks, which will also reflect our current investment views, but there are some key differences in the expected return profile of the different funds and their potential investment universe.
The Absolute Return fund is a long/short equity fund which is focused on developed Pan-European and North American assets and aims to deliver a return profile which is uncorrelated to the stock market and therefore most other funds. It seeks to achieve this largely through “shorting” stocks it doesn’t like, which “hedges” the market exposure of the bigger “long” portfolio, stocks we think will appreciate in value. It may also use “leverage” to potentially enhance returns. The success of the strategy should therefore be measured in terms of “absolute” rather than “relative” returns. The expected return profile may therefore offer valuable diversification for unitholders away from overall stock market direction. Given the fact that there is no Investment Association (IA) Long/Short Equity sector, this fund sits in the IA Targeted Absolute Return sector.
The Flexible Fund is a long only fund investing mainly in equities which aims to deliver a return profile which has lower volatility than the stock market and therefore most other funds. It seeks to achieve this through using other asset classes, mainly cash, government bonds and gold as tactical diversifiers to mitigate volatility and enhance returns. Unlike the Absolute Return Fund, it does not use leverage or “short” positions. The Flexible Fund’s equity exposure will vary according to market conditions but is expected to be 50-80%. It will sit in the Investment Association (IA) Flexible sector and will be a long-only strategy combining Argonaut’s high conviction equity portfolio with a focus on developed Pan-European and North American assets. The objective of the Flexible Fund will be to deliver capital appreciation (and income) over the long term via an active, fundamental investment approach and a concentrated portfolio of equity investments whilst using its non-equity exposure to mitigate risk of capital loss over the economic cycle.
33
VT Argonaut Absolute Return Fund
Fund Manager
Barry Norris
Managed by Barry Norris, the VT Argonaut Absolute Return Fund uses a simple long/short equity strategy to deliver attractive and positive returns with historically low correlation to equity markets.
This means it invests in its “long book” in stocks with significant earnings upside potential and in its “short book” in stocks with significant earnings downside potential. This combination aims to minimise market risk and maximise alpha generation. Volatility is also managed through flexible market exposure.
A portfolio diversifier with returns that have historically been lowly correlated to equity markets
Distinctive earnings momentum style
Invests exclusively in high conviction single stocks (both long and short) with no complicated derivatives
Hedges market risk through single stock alpha generation in short book
Solid track record of generating positive returns in negative market months and in controlling downside volatility
Hedges foreign currency risk back into currency share classes
For further information on past performance and key investment themes, download the latest Factsheet.
Past performance is not a guide to future performance. The value of shares and any income from them can go down as well as up and is not guaranteed. You may not get back the full amount invested.
This information is for professional clients and investment professionals only and should not be relied upon by retail clients.
The Argonaut Capital Partners website is designed for the use of Investment Professionals and Institutional Investors only. Please select the category that best reflects your status to access the website. This website is governed by the laws of the UK.
UK Investment Professionals and Institutional Investors
This website is directed at Investment Professionals (Independent Financial Advisers and Discretionary Investment Managers) as well as Institutional Investors. This website is governed by the laws of the UK and is not intended for use by Retail Investors. Issued by Argonaut Capital Partners Reg No. SO300614. Registered office: 4th Floor, 115 George Street, Edinburgh, EH2 4JN. Authorised and regulated by the Financial Conduct Authority.
Please read our risk warnings for your own protection and benefit before proceeding. The information on this website is not intended to constitute financial, investment, legal or other professional advice and should not be treated as a substitute for proper professional advice.
Argonaut Capital Partners endeavours to ensure that the data and other material in this website is correct and complete, but does not accept liability for any error made or omission from this website. Applications to invest in any fund referred to within this site must only be made based on the information contained within the relevant offer document i.e. Key Investor Information Document where applicable.
The Argonautica blog is made available solely for the information of UK investment professionals, UK institutional investors, International investment professionals as well as International institutional professionals and is not intended for, and should not be relied upon by retail investors. The information contained or referred to in the blog is given for information purposes only and is not intended to constitute financial, legal, tax, investment or other professional advice and should not be relied upon as such. The content of the Argonautica blog is for the confidential use of only those persons to whom it is lawfully transmitted and is not to be reproduced, distributed or used for any other purposes.
Nothing on this site shall be deemed to constitute investment advice.
Residents or citizens of the United States of America are specifically prohibited from investing in these funds and no person may offer investment in these funds to residents or citizens of the United States of America.
Cookies are currently used on the Argonaut website to prevent disclaimer pages from reappearing when you return to the site and by Google Analytics, a web analytics service provided by Google, Inc. to compile anonymous, aggregated statistics that allow us to understand how users use our site.
For more information about our Cookie policy and how to disable cookies on your computer please read our Privacy and Cookie policy before proceeding. By accepting the terms of this disclaimer and entering our website you are agreeing to our Cookie policy.
Legal
Please note that this website is governed by the laws of the UK.
Residents or citizens of the United States of America are specifically prohibited from investing in these funds and no person may offer investment in these funds to residents or citizens of the United States of America. The information does not constitute an offer or solicitation of an offer for investment in any jurisdiction outside the United Kingdom.
By entering this site you have agreed that you have read and understood and agreed to be bound by the terms of this Legal page.
General Terms and Disclaimers
The following information applies to every page on this website, whether or not such pages individually contain a disclaimer notice.
Please read the following important information. It explains certain legal and regulatory restrictions which apply to any investment in the products referred to in this website. Nothing contained in this website is intended to constitute financial, investment, legal or other professional advice and should not be treated as a substitute for professional advice.
Argonaut endeavours to ensure that the data and other material in this website is correct and complete, but does not accept liability for any error made or omission from this website. Nothing on this site shall be deemed to constitute investment advice. Applications to invest in any fund referred to within this site must only be made based on the information contained within the relevant documentation, e.g. Key Investor Information Document.
The information contained within this site has been compiled with care to ensure accuracy at the date of publication however the development of Argonaut products and services is continuous and published information may not always be up to date.
Copyright in the pages of this site and all proprietary rights in the information and material therein is and shall remain the property of Argonaut. Reproduction, redistribution and transmission of any information in these pages, in whole or in part, without the prior written consent of Argonaut is strictly prohibited.
Argonaut shall not be liable for any claims or losses of any nature, arising indirectly or directly from use of the data or material on this site.
Money Laundering
We are required by The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, the Proceeds of Crime Act 2002, the Terrorism Act 2000, the Bribery and Corruption Act 2010, the Financial Conduct Authority Senior Management Arrangements Systems & Controls Sourcebook and the Joint Money Laundering Steering Group guidance notes (as amended from time to time) to verify both the applicant and the source of funds (if different). This may involve us carrying out an electronic search of information using credit reference agencies. Completion of an application form represents permission to access this information in accordance with the Data Protection Act 1998 and also the General Data Protection Regulation.
Links to External Sites
Links to other sites from this website are for information only. Should you leave this website via a link contained herein, you do so at your own risk. Argonaut is not responsible for the content on other websites.
Telephone Calls
Both incoming and outgoing calls maybe recorded and/or monitored.
Email
Internet communication is not guaranteed to be timely, secure, error or virus free. Argonaut accepts no liability for any harm to systems or data, nor for personal emails. Emails may be recalled, deleted and monitored.
This Website is directed at Institutional Investors and is not intended for use by Retail Investors or members of the General Public.
1. Important Information
Please note that this website is governed by the laws of the UK and is not intended to constitute financial, investment, legal or other professional advice and should not be treated as a substitute for professional advice. This website is intended as a summary for Institutional Investors and is not an invitation to subscribe for shares or units.
Argonaut endeavours to ensure that the data and other material in this website is correct and complete and the information contained hereto is published in good faith but no representation or warranty, express or implied, is made as to its accuracy or completeness and it should not be relied on as such.
Argonaut shall have no liability for any error made or omission from this website or for any loss or damage arising out of the use or reliance on the information provided herein including, without limitation, any loss of profit or any other damage, direct or indirect. Argonaut excludes any claims, losses, costs, damages, expenses (including reasonable legal cost and expenses) or liabilities whatsoever, however suffered or incurred. Argonaut shall not bear any losses, costs or expenses incurred as a consequence or result of improper use by any third party or investor of this website.
Subscriptions in any Argonaut fund is only valid if made on the basis of the current Prospectus, the Supplements to the Prospectus (where applicable), the Simplified Prospectus and the most recent financial reports (where available) which are available on request by e-mailing sales@argonautcapital.co.uk or on our website www.argonautcapital.co.uk
This website does not constitute an offer or solicitation to invest in any fund in any country where such offer or solicitation is unlawful. This website is not directed at you if the laws or regulations of any country prohibit or restrict the material on this website from being made available to you, and it is not intended for any use which would be contrary to local law or regulation. You should only enter this website if you have satisfied yourself that the country in which you are based imposes no prohibitions or restrictions on the distribution of material on this website.
Distribution of any documents and the offering of shares in certain jurisdictions may be restricted by law and accordingly persons into whose possession this document comes are required to inform themselves about and to observe such restrictions.
Residents or citizens of the United States of America are specifically prohibited from investing in Argonaut Funds and no person may offer investment in Argonaut Funds to residents or citizens of the United States of America.
Past performance is not a guide to future performance. Any performance data shown does not take into account the commissions and costs incurred on the issue and redemption of units. The value of an investment and the income from it can fall as well as rise and you may not get back the amount originally invested. Tax assumptions and reliefs depend upon an investor's particular circumstances and may change if those circumstances or the law change. Potential investors must consult their financial & tax advisers before purchasing or selling shares in the Fund.
This website is issued by Argonaut Capital Partners and is authorised and regulated in the United Kingdom by the Financial Conduct Authority.
2. General Terms and Disclaimers
The information contained within this site has been compiled with care to ensure accuracy at the date of publication, however, the development of Argonaut products and services is continuous and published information may not always be up to date.
Copyright in the pages of this site and all proprietary rights in the information and material therein is and shall remain the property of Argonaut. Reproduction, redistribution and transmission of any information in these pages, in whole or in part, without the prior written consent of Argonaut is strictly prohibited.
3. Money Laundering
For institutional investors, the identity of the legal entity which will invest must be established before business can be accepted. If the applicant is a pension scheme, the Pension Scheme Trust Deed and any amendments thereto will require to be produced.
4. Links to External Sites
Links to other sites from this website are for information only. Should you leave this website via a link contained herein, you do so at your own risk. Argonaut is not responsible for the content on other websites.
5. Telephone Calls
Both incoming and outgoing calls may be recorded and/or monitored.
6. Email
Internet communication is not guaranteed to be timely, secure, error or virus free. Argonaut accepts no liability for any harm to systems or data, nor for personal emails. Emails may be recalled, deleted and monitored.
This website is directed at Investment Professionals (Independent Financial Advisers and Discretionary Investment Managers) as well as Institutional Investors. This website is governed by the laws of the UK and is not intended for use by Retail Investors. Issued by Argonaut Capital Reg No. SO300614. Registered office: 4th Floor, 115 George Street, Edinburgh, EH2 4JN. Authorised and regulated by the Financial Conduct Authority.
Please read our risk warnings for your own protection and benefit before proceeding. The information on this website is not intended to constitute financial, investment, legal or other professional advice and should not be treated as a substitute for professional advice.
Argonaut Capital Partners endeavours to ensure that the data and other material in this website is correct and complete, but does not accept liability for any error made or omission from this website. Applications to invest in any fund referred to within this site must only be made based on the information contained within the relevant offer document i.e. Key Investor Information Document where applicable.
The Argonautica blog is made available solely for the information of UK investment professionals , UK institutional investors, International investment professionals as well as International institutional professionals and is not intended for, and should not be relied upon by retail investors. The information contained or referred to in the blog is given for information purposes only and is not intended to constitute financial, legal, tax, investment or other professional advice and should not be relied upon as such. The content of the Argonautica blog is for the confidential use of only those persons to whom it is lawfully transmitted and is not to be reproduced, distributed or used for any other purposes.
Nothing on this site shall be deemed to constitute investment advice.
Residents or citizens of the United States of America are specifically prohibited from investing in these funds and no person may offer investment in these funds to residents or citizens of the United States of America.
Cookies are currently used on the Argonaut website to prevent disclaimer pages from reappearing when you return to the site and by Google Analytics, a web analytics service provided by Google, Inc. to compile anonymous, aggregated statistics that allow us to understand how users use our site.
For more information about our Cookie policy and how to disable cookies on your computer please read our Privacy and Cookie policy before proceeding. By accepting the terms of this disclaimer and entering our website you are agreeing to our Cookie policy.
Legal
Please note that this website is governed by the laws of the UK.
Residents or citizens of the United States of America are specifically prohibited from investing in these funds and no person may offer investment in these funds to residents or citizens of the United States of America. The information does not constitute an offer or solicitation of an offer for investment in any jurisdiction outside the United Kingdom.
By entering this site you have agreed that you have read and understood and agreed to be bound by the terms of this Legal page.
General Terms and Disclaimers
The following information applies to every page on this website, whether or not such pages individually contain a disclaimer notice.
Please read the following important information. It explains certain legal and regulatory restrictions which apply to any investment in the products referred to in this website. Nothing contained in this website is intended to constitute financial, investment, legal or other professional advice and should not be treated as a substitute for professional advice.
Argonaut endeavours to ensure that the data and other material in this website is correct and complete, but does not accept liability for any error made or omission from this website. Nothing on this site shall be deemed to constitute investment advice. Applications to invest in any fund referred to within this site must only be made based on the information contained within the relevant documentation, e.g. Key Investor Information Document.
The information contained within this site has been compiled with care to ensure accuracy at the date of publication however the development of Argonaut products and services is continuous and published information may not always be up to date.
Copyright in the pages of this site and all proprietary rights in the information and material therein is and shall remain the property of Argonaut. Reproduction, redistribution and transmission of any information in these pages, in whole or in part, without the prior written consent of Argonaut is strictly prohibited.
Argonaut shall not be liable for any claims or losses of any nature, arising indirectly or directly from use of the data or material on this site.
Money Laundering
We are required by The Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017, the Proceeds of Crime Act 2002, the Terrorism Act 2000, the Bribery and Corruption Act 2010, the Financial Conduct Authority Senior Management Arrangements Systems & Controls Sourcebook and the Joint Money Laundering Steering Group guidance notes (as amended from time to time) to verify both the applicant and the source of funds (if different). This may involve us carrying out an electronic search of information using credit reference agencies. Completion of an application form represents permission to access this information in accordance with the Data Protection Act 1998 and also the General Data Protection Regulation.
Links to External Sites
Links to other sites from this website are for information only. Should you leave this website via a link contained herein, you do so at your own risk. Argonaut is not responsible for the content on other websites.
Telephone Calls
Both incoming and outgoing calls may be recorded and/or monitored.
Email
Internet communication is not guaranteed to be timely, secure, error or virus free. Argonaut accepts no liability for any harm to systems or data, nor for personal emails. Emails may be recalled, deleted and monitored.
This Website is directed at Institutional Investors and is not intended for use by Retail Investors or members of the General Public.
1. Important Information
Please note that this website is governed by the laws of the UK and is not intended to constitute financial, investment, legal or other professional advice and should not be treated as a substitute for professional advice. This website is intended as a summary for Institutional Investors and is not an invitation to subscribe for shares or units.
Argonaut endeavours to ensure that the data and other material in this website is correct and complete and the information contained hereto is published in good faith but no representation or warranty, express or implied, is made as to its accuracy or completeness and it should not be relied on as such.
Argonaut shall have no liability for any error made or omission from this website or for any loss or damage arising out of the use or reliance on the information provided herein including, without limitation, any loss of profit or any other damage, direct or indirect. Argonaut excludes any claims, losses, costs, damages, expenses (including reasonable legal cost and expenses) or liabilities whatsoever, however suffered or incurred. Argonaut shall not bear any losses, costs or expenses incurred as a consequence or result of improper use by any third party or investor of this website.
Subscriptions in any Argonaut fund is only valid if made on the basis of the current Prospectus, the Supplements to the Prospectus (where applicable), the Simplified Prospectus and the most recent financial reports (where available) which are available on request by emailing sales@argonautcapital.co.uk or on our website www.argonautcapital.co.uk
This website does not constitute an offer or solicitation to invest in any fund in any country where such offer or solicitation is unlawful. This website is not directed at you if the laws or regulations of any country prohibit or restrict the material on this website from being made available to you, and it is not intended for any use which would be contrary to local law or regulation. You should only enter this website if you have satisfied yourself that the country in which you are based imposes no prohibitions or restrictions on the distribution of material on this website.
Distribution of any documents and the offering of shares in certain jurisdictions may be restricted by law and accordingly persons into whose possession this document comes are required to inform themselves about and to observe such restrictions.
Residents or citizens of the United States of America are specifically prohibited from investing in Argonaut Funds and no person may offer investment in Argonaut Funds to residents or citizens of the United States of America.
Past performance is not a guide to future performance. Any performance data shown does not take into account the commissions and costs incurred on the issue and redemption of units. The value of an investment and the income from it can fall as well as rise and you may not get back the amount originally invested. Tax assumptions and reliefs depend upon an investor's particular circumstances and may change if those circumstances or the law change. Potential investors must consult their financial & tax advisers before purchasing or selling shares in the Fund.
This website is issued by Argonaut Capital partners and is authorised and regulated in the United Kingdom by the Financial Conduct Authority.
2. General Terms and Disclaimers
The information contained within this site has been compiled with care to ensure accuracy at the date of publication, however, the development of Argonaut products and services is continuous and published information may not always be up to date.
Copyright in the pages of this site and all proprietary rights in the information and material therein is and shall remain the property of Argonaut. Reproduction, redistribution and transmission of any information in these pages, in whole or in part, without the prior written consent of Argonaut is strictly prohibited.
3. Money Laundering
For institutional investors, the identity of the legal entity which will invest must be established before business can be accepted. If the applicant is a pension scheme, the Pension Scheme Trust Deed and any amendments thereto will require to be produced.
4. Links to External Sites
Links to other sites from this website are for information only. Should you leave this website via a link contained herein, you do so at your own risk. Argonaut is not responsible for the content on other websites.
5. Telephone Calls
Both incoming and outgoing calls may be recorded and/or monitored.
6. Email
Internet communication is not guaranteed to be timely, secure, error or virus free. Argonaut accepts no liability for any harm to systems or data, nor for personal emails. Emails may be recalled, deleted and monitored.
