Standard Life Investments' GARS has reported a "challenging month" after being hurt by the commodities slump, although it successfully exited its investment in Brazil ahead of the S&P downgrade.
The fund was down 1.5% during August in what investment director Andy Ford described as a "challenging month", although it is still up 5.2% over the year to 31 August, according to the group's own figures. In the latest monthly update, Ford said: "August was a challenging month for capital markets as global equities fell in volatile trading on renewed investor concerns that China's efforts to stabilise the equity markets and stimulate economic growth were faltering." The fund previously reported its first quarterly loss in two years in the three months to 30 June, when it fell 1.5%. ...
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