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Invesco launches mixed asset fund for ex-GARS trio

Invesco launches mixed asset fund for ex-GARS trio

Invesco has launched a mixed asset strategy for the trio of specialist managers hired from Standard Life Investments at the end of 2012.

The Invesco Global Targeted Returns Fund will be the first overseen by the three-strong team.

David Millar (pictured), Dave Jubb and Richard Batty joined Invesco at its Henley-on-Thames base in South East England in September 2012 having worked for SLI’s famed GARS team.

Development of the Luxembourg-domiciled fund is designed to capitalise on increased interest for risk parity funds among clients, Invesco said.

It will adopt a three-step approach from across asset classes and geographies, combining these ideas for a single, diversified portfolio across both equities and fixed income.

The fund, known as GTR, will take an unconstrained, high conviction approach to investing and invest with a three-year time horizon.

Commenting on the launch, David Millar, who is head of multi-asset investment at Invesco, said: ‘As a team we believe that the way to achieve true diversification is to break away from the constraint of asset class labels and bring good investment ideas, which cross asset classes and geographies, together into a single diversified portfolio.’

The fund is registered for sale in Austria, Belgium, Finland, France, Germany, Italy, Jersey, Luxembourg, the Netherlands, Norway, Spain, Sweden and Switzerland.

Invesco said the fund follows in the footsteps of the Invesco Balanced Risk Allocation fund, which is overseen by Scott E. Wolle.

This ‘risk parity’-focused fund has returned 21.4% over the three years to the end of January 2014. This compares to a rise of 21.77% by its Citywire benchmark, the LCI Mixed Asset EUR Bal – Global, over the same period.

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