Outflows from the Standard Life Investments Global Absolute Return Strategies (GARS) fund rose 44% in one month as investors pulled £1.8bn out during September.
According to a research note from RBC, outflows during September were 44% higher than in August when GARS lost £1.2bn, marking a new record for the fund's the highest monthly outflow. RBC estimated total redemptions for the year were £8.3bn, meaning the fund has already lost a quarter of the assets it had at the beginning of 2018, with assets under management across the range falling from £33bn at the start of the year to an estimated £23.5bn. As a result, RBC has increased its annual outflow forecast for the strategy from £10bn to £12bn for 2018, while maintaining its forecast of £7b...
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