New York (HedgeHo.net) – Standard Life Investments has been selected by UBS PACE Select Advisors Trust to manage a 25% (approximately $116.5m) component of its UBS PACE Alternative Strategies Investments. In managing its portion of the hedge fund, Standard Life Investments utilizes its Global Absolute Return Strategies (GARS) portfolio.
“I’m delighted that we’ve been given the opportunity to play such an important role in managing assets for the PACE Alternative Strategies fund.” Steve Kuhn, Head of US Business Development at Standard Life Investments said, “Standard Life Investments’ Global Absolute Return Strategies portfolio provides US investors with the potential to enhance returns and achieve stability. This partnership with UBS is also a great example of the synergies that can be created between two global managers with a shared vision to provide investors with attractive investment options.”
Standard Life Investments’ Global Absolute Return Strategies portfolio seeks to deliver an absolute return similar to what might be expected from equities in the long-term, but with significantly less risk. This is sought through a dynamic multi-asset, multi-market strategy that manages investments across a range of traditional and non-traditional sources of return. GARS currently has over $8 billion of assets under management and over 260 institutional clients.
GARS has delivered gross annualized returns of 10.75% over the last three years with a volatility level of 6.4%. Over the same period, the MSCI World TR GBP Index returned minus 1.26% with volatility of 20.33%.
Standard Life Investments developed GARS in November 2005 to satisfy the requirements of its own defined benefit pension plan. It has grown significantly since that time and attracted a broad array of institutional clients including Electrolux, Volkswagen and Electrocomponents. GARS is available to US and international investors through commingled funds and separate accounts at very competitive fees. It offers levels of portfolio transparency, liquidity and access unusual among its peers.
Editing by Alex Akesson
For HedgeCo.net
alex@hedgeco.net
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