BlackRock's UK Absolute Alpha fund has been added to Standard Life's insured product range and its life counterpart to FundsNetwork's investment bond fund range.
Available within the FundsNetwork Investment Bond, the BlackRock UK Absolute Alpha Life fund is designed to deliver an absolute return in all market conditions. It adopts a long as well as short market position, investing in a range of financial instruments.
The fund, managed by Mark Lyttleton has £1,301.4m or $2,550.7m assets under management at 30 June 2008.
Standard Life has added the UK Absolute Alpha fund to complement its Global Absolute Return Strategies funds (GARS) and expand its insured fund range, from 5 August.
The life company believes the fund's aim of providing a positive return regardless of UK market conditions is an attractive proposition in the present economic environment.
Graham Dow, head of investment development at Standard Life, says: “This is a very important addition to our fund range. BlackRock has demonstrated that they can deliver on the potential of Absolute Return Funds. They have a very good track record in this fast growing sector.”
Standard Life has a range of absolute return funds on offer, including Standard Life’s Global Absolute Return Strategies fund, which complements BlackRock’s UK mandate, says Dow.
Absolute return fund products from Insight, Newton and JP Morgan are also available on Standard Life’s insured product range.IFAonline
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