Britannic Asset Management has launched a new option for investors , called the Britannic Argonaut European Alpha Fund.

This fund is the first of what will possibly be several funds run by fund manager Barry Norris.

This fund will employ the same investment approach Mr Norris and his colleague Oliver Russ used at Neptune Asset Management.

The investment objective is to deliver high alpha (from capital growth) from a concentrated portfolio of between 30 and 50 stocks .

Alpha is the difference between the expected return of a sector fund and the fair return for a fund based on its historical responsiveness to market movements.

Argonaut European Alpha will not be benchmark constrained, so it will not be required to adhere to the MSCI Europe (ex UK) index.

The minimum investment in the fund is £500 (£50 for regular monthly contributions) with charges set at 5.25 per cent initially and 1.75 per cent annually.