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Guy Stern, Standard Life GARS fund, interview
03 April 2013
Andrew Sheen talks to Guy Stern, manager of the £21bn Standard Life GARS fund, about taking a long-term view in challenging economic times
Standard Life GARS fund
The Standard Life GARS (Global Absolute Returns Strategies) fund is the poster child of absolute returns. Launched in 2005, it was designed as an investment engine to close the funding deficit in Standard Life’s group pension scheme ahead of the company’s demutualisation, before being opened to outside investors in 2006.
Since then, the fund has grown at a rapid pace, with total assets invested in the strategy across its various units topping £21bn ($31.9bn), of which over £14bn (as at the end of last year) is invested in the main UK fund. In an environment where many absolute returns funds have struggled to live up to their names, the GARS fund has delivered consistent performance.
On a three-year basis, the retail fund has delivered a cumulative performance of just over 19%, compared with its benchmark of 3.3% from six-month Libor. The GARS fund is currently managed by...
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