SLI Offers Hedge Fund-Like Product To Retail Investors

May 8 2008 | 11:59am ET

Standard Life Investments has launched its Global Absolute Return Strategies Fund, designed for retail investors. The unit trust will blend traditional investments in stocks and bonds with relative value, duration, credit spreads, inflation and volatility strategies.

The benchmark for the fund is U.K. six-month sterling LIBOR1 and it aims to out perform by an additional 5% per annum gross of fees, over a rolling three-year period.
 
“We expect that GARS will prove particularly attractive to longer-term investors, who wish to invest in a fund that aims to provide positive investment returns in a variety of market conditions,” Jacqueline Kerr, head of mutual fund investments at Standard Life Investments, said. “It will also be of interest to those seeking to invest in an absolute return strategy while benefiting from daily pricing and liquidity, transparency, low minimum investment and competitive fees.”

On the private equity front, the firm’s p.e. unit, SL Capital Partners, has appointed Eric Albertson as an investment director, North America. Albertson, who will be based in SLCP's Boston office, will focus on managing $625 million of p.e. funds raised from U.S. investors.

Albertson previously worked for Bank of America Capital Advisors responsible for a $900 million portfolio of p.e. funds and direct co-investments.

“He forms an integral part of our plans to develop and promote our global private equity business,” David Currie, chief executive at SL Capital, said. “We anticipate making additional hires in the coming months to further strengthen our U.S. private equity program.”


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