Standard Life gets ‘recommended’ rating
Ratings house Lonsec has award global asset manager Standard Life Investments a 'recommended' rating for its Global Absolute Return Strategies Trust.
In doing so, the ratings house noted that while the Australian fund had been launched in November, 2009, the UK version of the Trust had been operating since June, 2006 and had a solid track record of performance.
Standard Life Investments' GARS is a multi-asset fund which the company says aims to deliver a positive absolute return over the medium- to long-term in all market conditions.
Commenting on the rating, Standard Life Investments investment director and head of business in Australasia, Simone Bouch, said she believed it recognised the company's absolute return capabilities and strong track record in the area.
"This is an important step in the development of our wholesale business strategy," Bouch said.
"We currently manage close to $50 billion of assets in the GARS strategy globally which includes institutional investors in Australia. Obtaining our first fund rating with Lonsec now provides us with a great opportunity to offer this long-established expertise to Australian wholesale investors."
Recommended for you
Net cash flow on AMP’s platforms saw a substantial jump in the last quarter to $740 million, while its new digital advice offering boosted flows to superannuation and investment.
Insignia Financial has provided an update on the status of its private equity bidders as an initial six-week due diligence period comes to an end.
A judge has detailed how individuals lent as much as $1.1 million each to former financial adviser Anthony Del Vecchio, only learning when they contacted his employer that nothing had ever been invested.
Having rejected the possibility of an IPO, Mason Stevens’ CEO details why the wealth platform went down the PE route and how it intends to accelerate its growth ambitions in financial advice.
