Standard Life strikes deal to take GARS fund to the US
Standard Life Investments has teamed up with John Hancock Mutual Funds to allow the firm to make its global absolute return strategies fund available to the US retail market.
The fund will be called the John Hancock global absolute return strategies fund and will sit in the speciality fund category. Standard Life Investments is to the sub-adviser on the fund.
The fund will be offered as both a standalone offering with the John Hancock retail range and as part of the asset allocation and lifestyle funds offered by the US asset manager.
GARS has become a big seller in the IFA community since its launch in 2008. The fund, which sits in the Investment Management Association absolute return sector, is up 33 per cent over the past three years and is over £9bn in size.
Standard Life Investments chief executive officer Keith Skeoch says: “This agreement not only widens our distribution footprint in the US institutional and wholesale market but allows us to work with a leading distributor to help deliver potential for our global clients. In difficult current market and economic conditions, clients will now be able to benefit from Standard Life Investments’ investment expertise through John Hancock Funds.”