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Legal & General recruits Standard Life’s Gars fund

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Standard Life Investments’ Global Absolute Return Strategies Fund has been added to Legal & General’s portfolio plus pensions and portfolio bond range.

Gars will join Standard Life Investments’ AAA income, UK gilt, corporate bond, higher income, select property, UK equity high income, UK opportunities and UK smaller companies funds, all of which are currently available to investors via Legal & General investment channels.

Gars was opened to retail investors in May 2008, enabling investors to access the fund via Sipp, bond, Isa and Standard Life fund platform channels. It was launched in the institutional space in June 2006.

Tam McVie, investment director – mutual funds, Standard Life Investments, says: “We are delighted that Legal & General has embraced the success of our Gars fund by adding it to their investment proposition. We’re particularly pleased that even more retail investors will be able to access the benefits this fund offers.”

Gars was Standard Life Investment’s best selling mutual fund during 2009 and continues to be so to date during 2010.

The fund aims to provide investors with the same returns that have historically been achieved from conventional long-term equity investment but with less uncertainty.

Since its launch in June 2006, the fund has produced a gross annualised return of 9.8 per cent with a volatility of only 6.6 per cent. During the same period, global equities, as denoted by the MSCI World Index, returned 6.5 per cent p.a. with a volatility of 17.8 per cent.

Gars is designed to exploit inefficiencies across global markets and to also access a diverse array of stock picking skill. It invests in a combination of traditional investments such as equities, bonds and foreign exchange together with more advanced strategies such as relative value, duration, credit spreads, inflation and volatility strategies.

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