abrdn investments CEO Buehlmann: Closing GARS was 'difficult' but it was 'not right anymore'

Now becoming a 'specialist' house

Eve Maddock-Jones
clock • 4 min read

René Buehlmann, CEO of investments at abrdn, said that merging away the Global Absolute Return Strategies (GARS) was a "very difficult" decision, but a necessary one because the strategy was no longer fit for purpose in the current market environment.

At its peak, GARS was one of the largest funds in the IA Target Absolute Return (TAR) sector, reaching £26.8bn assets under management. When it closed, the fund held £857m in assets, according to data from FE fundinfo. It was decided that the once-mighty fund would cease operating as a standalone product and instead merged into the company's diversified asset funds. Buehlmann said that while it was a tough decision, the macroeconomic backdrop had changed so much that GARS was no longer a competitive offering. "We were convinced that this was not the right product any longer for the...

To continue reading this article...

Join Investment Week for free

  • Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
  • Get ahead of regulatory and technological changes affecting fund management
  • Important and breaking news stories selected by the editors delivered straight to your inbox each day
  • Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
  • Be the first to hear about our extensive events schedule and awards programmes

Join now

 

Already an Investment Week
member?

Login

More on Companies

FE fundinfo expands regulatory reporting offering with European acquisition

FE fundinfo expands regulatory reporting offering with European acquisition

Matterhorn Reporting Services

Cristian Angeloni
clock 06 November 2024 • 1 min read
Schroders shares nosedive 14% on £10bn outflow warning

Schroders shares nosedive 14% on £10bn outflow warning

Net outflows of £2.3bn in the quarter

Valeria Martinez
clock 05 November 2024 • 2 min read
Warren Buffett slashes Apple stake as Berkshire cash soars to record high

Warren Buffett slashes Apple stake as Berkshire cash soars to record high

Cash hits $325.2bn

Linus Uhlig
clock 04 November 2024 • 2 min read
Trustpilot