Invesco Perpetual’s Global Targeted Returns fund has seen larger inflows than Standard Life Global Absolute Returns fund in the past year.
In the 12 months to 20 January Invesco Perpetual’s GARS challenger fund clocked up £3.6bn of net inflows, compared to £2.9bn for Standard Life’s fund.
The Invesco Perpetual fund, run by three former GARS managers, was set up as a challenger to the fund and a way to diversify Invesco’s offerings after Neil Woodford left the firm.
However, the Invesco fund remains a minnow in comparison, with total year end assets of £4.3bn, compared to £26.7bn for the UK unit trust of GARS.
GARS saw a peak in assets last year, nearing £40bn, prompting a capacity warning from Morningstar. The research firm warned that the size was affecting performance, prompting investors to look to smaller alternative funds.
At the time Axa Wealth head of investing Adrian Lowcock recommended the Invesco Perpetual Global Targeted Return as an alternative.
The Invesco fund was launched in September 2013, run by Dave Jubb, David Millar and Richard Batty, who all previously worked on the GARS fund.