Standard Life Investments' Global Absolute Return Strategies fund has seen quarterly net outflows for the first time since 2013 during the second quarter of 2016, according to analysis from RBC Capital.
In its first-half results this morning, the firm saw gross redemptions from its multi-asset business, which includes the GARS fund, of £5.9bn, while equities and fixed income also suffered. An analyst note from RBC revealed GARS saw outflows of £400m during the period compared to expected inflows of £1bn. The firm estimated GARS contributed to 30% of Standard Life's inflows and earnings. The GARS team has previously admitted it was "caught off guard" by the outcome of the European referendum which cost the fund in performance terms. RBC said it "did not expect a recovery" in GARS a...
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