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Philip Goldsmith

The fund, which has outperformed its benchmark by 35.3%* since launch in May 2005, provides a dynamic approach to alpha generation, investing in a concentrated portfolio of companies based in Europe excluding the UK.

The Euro unit class complements the existing Argonaut product range, which includes a Pan European Alpha fund, and a Europe ex UK and Pan European Income strategy. It is suited to investors seeking a high alpha product which is able to invest in companies across the Europe ex UK region as well as those who do not want to be limited to the European Monetary Union (EMU) universe.

Funds with an EMU benchmark are unable to invest in some of Europe’s largest markets, such as Switzerland, Sweden, Norway and Denmark, and therefore tend to have a higher weighting to peripheral markets in southern Europe. In contrast, Norris, who co-founded the Argonaut boutique in 2005, has generated his outperformance from an unconstrained approach to investing in markets. He currently has his highest weightings to Germany, Switzerland and Norway.

Philip Goldsmith, Managing Director Europe says: “The European Alpha fund has been an extremely strong performer since launch and investor demand has been growing for a Euro unit class. We are pleased to be able to meet that demand and we look forward to the fund continuing its impressive record of outperformance.”

The fund is registered for sale in Austria and Germany and registration is currently being sought in France, Italy (institutional), Spain and Switzerland.

* Source:Lipper, bid to bid net income reinvested from 12/05/05 to 29/04/11 excluding initial charge. Return in €. Performance figure is shown in € based on the sterling A accumulation unit class converted into € using exchange rate provided by Lipper hindsight.

(press release)

www.ignisasset.com

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