Abrdn confirms 500 redundancies in cost-cutting ‘transformation plan’ amid £12.4bn outflows
£150m of costs will be cut across the business over two years
Gars
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There is no ‘magic formula’ when it comes to fund selection in absolute return space
Shining a spotlight on a sector cloaked in mystique following the fall of Abrdn Gars, do targeted absolute return funds still have the power to attract investors?
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Abrdn to fold GARS into Diversified Assets suite following poor performance
Three other absolute return funds to close later this year
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Gars manager resigns from ASI to seek ‘new challenge’
Neil Richardson says it was a ‘privilege’ working on absolute return giant but that he needed a change
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Invesco absolute return fund poised to overtake Gars for outflows
Invesco Global Targeted Returns was pummelled by £2bn of net outflows in H1
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ASI trumpets Gars turnaround as outflows slow to £10.6bn
Gars outpacing rival absolute return funds from Invesco and Merian
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Absolute return dumped by the bucket load in tricky markets
Investors pulled £1.6bn towards the end of 2018 as markets sold-off
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SLI Gars could sway advisers with fresh leadership
Gars has seen assets shrivel by £2.7bn over four months
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SLI Gars breaks losing streak
US equities and European banking sector bets pay off for the troubled absolute return strategy
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Adviser interest in SLI Gars wanes
But Woodford’s poor performance fails to dent his popularity
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SLI Gars fails to break losing streak as volatility ramps up
Standard Life Investment’s mega Global Absolute Return Strategy has ended the first quarter in negative territory, failing to beat peers in the sector as volatility across global markets spiked.
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Absolute return popularity could signal further volatility
Absolute return strategies are the asset class most European fund selectors wanted to buy even before the recent rise in volatility in bond and equity markets, all except the Dutch who are not so keen on the strategy.