Standard Life Investments' £26.2bn Global Absolute Return Strategies (GARS) fund has recorded its worst quarterly performance since the height of the financial crisis in 2008, against a turbulent backdrop for global markets as many fell into bear territory at the start of this year.
Over the past three months to 30 March, the absolute return fund has lost 3.5%, according to FE, compared to an average 1% fall for the IA Targeted Absolute Return sector. This is the fund's worst quarterly performance since soon after its launch, when the vehicle fell 4.3% in the third quarter of 2008, which saw the collapse of Lehmans. This is the third quarter of negative performance for the fund in the past 12 months, after the vehicle lost 1.5% in Q2 2015 and 2% in Q3. At the time, this was the first quarterly period of negative returns by the strategy in two years (since Q2, 201...
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