Invesco Perpetual is preparing to roll out its answer to Standard Life Investments' GARS fund with the trio of managers it poached from the group.
The Invesco Perpetual Global Targeted Returns fund will launch as an open-ended, UK-domiciled portfolio, to be run by David Millar, Dave Jubb and Richard Batty (pictured).
The aim of the fund is to achieve a positive total return in all market conditions over a rolling three-year period. It will invest in equities, equity-related securities, debt securities, and money-market instruments.
The new product has been a year in the making, following the appointment of the trio in September 2012.
At the time, Invesco Perpetual's head of distribution Ian Trevers said any new product would be differentiated from SLI's hugely successful strategy.
"At Invesco Perpetual, we are known for having long-term time investment horizons and taking contrarian views and sticking to them. There will be no copycat products but something that is unique and identifiably Invesco, and not necessarily focused on absolute return," he said.
He added multi-asset investing would be "absolutely key" given the regulatory environment and changing buying habits. "Advisers are recognising that strategies of this nature have an important role to play in clients' portfolios, we have seen this with the success of GARS," Trevers said.
The GARS franchise has seen assets swell to £19bn, although it suffered a further blow earlier this year when Euan Munro, one of the key architects of the strategy, left the group to join Aviva Investors as CEO.
For full details of the launch see Monday's Investment Week.
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