Argo expects to report annual loss as income hurt by wild swings in emerging markets

Alternative investment manager Argo Group said Tuesday it would record a annual operating loss as annual management fees would be flat compared with last year following difficult trading conditions in emerging markets.

The company said it would record an operating loss for the year ended 31 December 2018 as the 'significant performance fees which equalled US$5.9m in the year ended 31 December 2017 will not be repeated amid difficult trading conditions in emerging markets.'

The company also said it would not declare a final dividend, but attempted to reassure investors, revealing it was considering a return of capital to shareholders via a buyback of shares, with announcements expected in due course.  

At 9:52am: (LON:ARGO) Argo Group Ltd share price was -2p at 15.75p