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Standard global absolute fund storms to the top

Standard Life Investments global absolute return strategies has become the UK’s best-selling fund, with net sales in the first half of this year more than double those of any other fund.

Net sales on the fund were £1.7bn compared with the second-placed fund, Newton real return, which took £857m, according to Lipper. The Standard fund saw a net retail inflow of £571m, helping it to break through £4.5bn under management this month.

The surge comes after nationwide roadshows attended by 600 IFAs. Many feel the global, multi-asset fund has replaced BlackRock’s equity-based UK absolute alpha fund, which has delivered losses in recent months, as the default absolute return product.

Whitechurch Securities senior analyst Ben Seager-Scott says: “It is now definitely one of our core holdings. It has performed well in terms of returns and volatility. The BlackRock fund is still a good fund but it could face a tougher time when equity markets are being emotionally driven and performing less predictably.”

Chelsea Financial Services managing director Darius McDermott says: “We do like it. Without any promotion by us, we have seen decent inflows into it.”

The Standard Life fund gained 6.18 per cent in the first half and 16.5 per cent over the past year.

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