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The Global Absolute Return Strategies Fund (GARS) aims to give investors positive investment returns in all market conditions. We seek to provide the same returns that have historically been achieved by conventional long-term equity investment, but with considerably less uncertainty.
The Fund aims to deliver a positive return over rolling 12-month periods and has a target return of cash* +5% per annum (gross of fees) over rolling 3-year periods. We expect this to be consistent with the long-term return available from equities and we aim to achieve this target with around one-half to one-third of their volatility.
GARS uses a truly active approach to diversified asset allocation, comprising a wide range of asset class exposures. Alongside dynamic allocations to traditional assets such as equities, fixed income and real estate, GARS uses advanced sources of market, relative value and directional returns. We select strategies freely across geographies and markets, investing where we find the best return prospects within robust risk constraints.
These charts are for illustrative purposes only to provide information on our global absolute returns approach.
As GARS uses derivatives to implement many strategies, breaking the Fund down by the percentage invested in each asset class doesn’t give a true reflection of its investment positions. Instead, we measure each strategy’s contribution to overall risk.
The first pie chart below shows you actual physical allocation. The second includes derivative exposure to give a more informed view of the different market strategies and the Fund’s diversified nature.