Whitechurch dumps GARS after 10 years

Whitechurch Securities has severed all ties with Standard Life Investments’ Global Absolute Return Strategies after holding the multi-asset fund for 10 years.

Whitechurch dumps GARS after 10 years

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The Bristol-based wealth manager said a combination of poor performance and the departure of key team members had led to a protracted exit from the fund over the past year.

Whitechurch first invested in GARS a decade ago, but said in recent times its performance had lagged its peers, which have been better able to navigate market conditions.

Gavin Haynes, managing director at Whitechurch, said the firm had gained more confidence in some of GARS’ competitors which as well as performing better, are more aligned with its views.

Haynes said: “It [GARS] has had a challenging period of performance and against some of the competitor products there is an increased choice in that area, in the absolute return space.”

As a result, Whitechurch has allocated a small undisclosed proportion of its portfolio to the Invesco Perpetual Global Absolute Return fund.

 

 

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