Standard Life gets ‘recommended’ rating
Ratings house Lonsec has award global asset manager Standard Life Investments a 'recommended' rating for its Global Absolute Return Strategies Trust.
In doing so, the ratings house noted that while the Australian fund had been launched in November, 2009, the UK version of the Trust had been operating since June, 2006 and had a solid track record of performance.
Standard Life Investments' GARS is a multi-asset fund which the company says aims to deliver a positive absolute return over the medium- to long-term in all market conditions.
Commenting on the rating, Standard Life Investments investment director and head of business in Australasia, Simone Bouch, said she believed it recognised the company's absolute return capabilities and strong track record in the area.
"This is an important step in the development of our wholesale business strategy," Bouch said.
"We currently manage close to $50 billion of assets in the GARS strategy globally which includes institutional investors in Australia. Obtaining our first fund rating with Lonsec now provides us with a great opportunity to offer this long-established expertise to Australian wholesale investors."
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