Ignis said that it was in advanced discussions with the European equity boutique over a possible change to their partnership arrangements and is expected to make it public in the next few days.
Argonaut was established as a 50/50 joint venture between managers Barry Norris and Oliver Russ, and Ignis in 2005.
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According to the original structure, Argonaut was formed to solely concentrate on managing money while Ignis focused on the distribution and back office systems.
The decision also follows after Ignis divested its Hexam joint venture, the emerging markets boutique run by Bryan Collings in July 2010. In 2009, Maia, a multi-manager joint venture was scrapped leaving Ignis with only one joint venture, Cartesian Capital Partners.
Argonaut entire fund range includes the European Absolute Return, European Alpha, European Enhanced Income and European Income vehicles.
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