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Standard Life considers bond version of Gars

Standard Life Investments has drafted plans for a bond version of its global absolute return strategies fund.

The existing fund has exceeded £5 billion in assets under management and was opened to retail investors in May 2008, exceeding £500m in assets just three months later.

Gars has become Britain’s best selling fund, according to Lipper. In the first half of this year, the fund saw net sales of £1.7 billion, more than double those of any other product.

According to the latest fund factsheet dated August 31, Gars has £5.2 billion of assets under management.

Managed by the multi-asset investment team, the fund aims to exploit market inefficiencies through active allocation to highly diversified positions. It combines traditional assets, including equities and bonds, with investment strategies that are based on advanced derivative techniques.

The team can take long and short positions in markets, securities and groups of securities.

The fund sits in the Investment Management Association’s absolute return sector and is benchmarked against the six-month sterling London interbank offered rate.

Standard Life Investments has confirmed it is in the early stages of developing a bond version but is unable to provide further information.

“We have had tremendous success with our global absolute return strategies fund and are examining whether there would be similar demand for an absolute return bond strategies fund,” a spokesperson says.

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