SLI's GARS tops Q1 European absolute return sales

Standard Life's Global Absolute Return Strategy was the top selling European total return vehicle in Q1 as the sector saw record sales in Europe, according to Lipper.

Absolute and total return funds attracted net inflows of €9.7bn in the first quarter, compared to €11bn during the whole of last year. The strongest sales of absolute returns funds in Q1 was in the UK, at €2.07bn. Standard Life's GARS strategy pulled in sales of €800m, while GAM/Julius Baer was top group for absolute return funds by both AUM and Q1 sales. Meanwhile, total net assets in absolute/total return funds stood at €132.5bn as at March 2010. At its 2006 peak, assets totalled €179bn.