SLI's Global Absolute fund breaks £500m assets under management

Standard Life Investments' (SLI) Global Absolute Return Strategies Fund (GARS) has broken the £500m mark in assets under management since its launch two years ago.

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The fund has attracted more than £255m of new investment so far this year, with total assets standing at over £609m.

SLI said since its launch in June 2006, the fund has delivered an annualised return of 7.3 per cent.

Its benchmark is UK six month sterling LIBOR and the fund aims to out perform by an additional 5 per cent per annum gross of fees, over a rolling three-year period.

Clients include the Commonwealth War Graves Commission Superannuation Scheme, Dollond & Aitchison Pension & Life Assurance Scheme and the Electrocomponents Group Pension Scheme.

In May, SLI also made its GARS Fund available to UK retail investors, and has since attracted more than £40m in retails assets.

Louise Kay, head of UK institutional business development at SLI, said: "The key to GARS success has been a diverse array of traditional and advanced market strategies expertly blended by our multi-asset investing team.

"As well as traditional assets like equities and bonds, they have scoured global markets for diversifying opportunities, deploying credit protection and volatility strategies that paid off when credit markets hit the rocks in the autumn of 2007 and fears of a global slowdown shook equity markets."

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