It will provide retail investors with access to an absolute return fund that uses the same investment techniques available to its institutional investors.
The fund seeks to provide investors with consistent, investment returns over the medium to long term in a variety of market conditions.
The benchmark for the fund is UK six-month sterling Libor, with the fund aiming to out-perform by 5 per cent a year gross of fees, over a rolling three-year period.
The Gars fund is designed to exploit inefficiencies across markets and to maximise risk-adjusted returns from across the globe.
It invests a combination of traditional investments such as equities, bonds and foreign exchange with further strategies of relative value, duration, credit spreads, inflation and volatility strategies. The fund intends to make the unit trust available on a wide variety of fund platforms which initially will include Standard Life Wrap and FundZone.Head of mutual fund investments Jacqueline Kerr says: “Since its launch in June 2006, this fund has delivered a gross annual return of 9.8 per cent despite extensive market volatility and considerable fund growth. This is an exciting development.”