- Argo Group reports a pre-tax loss of $$2.9 million for the year to the end of December - up from $2.0 million in 2014.

Revenues fell to $5.7 million from $7.5 million) but the group reports an operating profit $0.2 million against a loss of $1.2 million last time.

Chief executive Kyriakos Rialas said: "Following the sale of its largest illiquid position late last year, Argo has relaunched its flagship fund, The Argo Fund, modifying its strategy from a multi-strategy fund to a purely liquid Emerging Markets Fixed Income Fund having excluded level three assets. The first three months of 2016 look promising. Going forward the Argo Fund with its 16 year track record will spearhead the Group's efforts to increase assets under management. At the same time the Argo Distressed Credit Fund will concentrate on distressed credit and certain private equity positions."

At 9:37am: [LON:ARGO] Argo Group Ltd share price was +0.25p at 9.13p

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