The team behind Standard Life Investments' £26.8bn Global Absolute Return Strategies (GARS) fund has said it was "caught off guard" by the UK's decision to leave the EU, costing the portfolio 3% in performance terms during June.
In an investor update from head of multi-asset Guy Stern, the manager said the surprise Brexit vote hurt the portfolio during the second quarter. The fund lost 1.1% during the period, compared to near...
'Following the letter, but not the spirit, of the rules'
Tech giant still stands out
Reduces chances of rate hike
Designed to park short-term cash