Standard Life GARS tops Bestinvest’s May sales

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The £16.7bn Standard Life Global Absolute Return Strategies fund was the most popular among Bestinvest clients during May, followed by offerings from HSBC, Liontrust, GLG and First State.

Last month’s sales report suggests investors took more interest in absolute return funds on the back of unattractive valuations in some parts of the market.

Bestinvest says: “Traditional low volatility options such as bond funds are out of favour at the moment, as QE has distorted the market pushing valuations to a premium and squeezing yields.

“Cautious investors have therefore had to look elsewhere and this is reflected in the number one spot going to this absolute return fund, which we rate with five-stars.”

The £839.8m HSBC American Index fund was the second best-selling product among Bestinvest clients in May, as investors sought to tap into the rise of the S&P 500.

Anthony Cross and Julian Fosh’s £931m Liontrust Special Situations fund was in third place, followed by Stephen Harker’s £1.1bn GLG Japan Core Alpha fund and Jonathan Asante’s £5bn First State Global Emerging Markets Leaders fund.

HSBC FTSE 100 Index, Legg Mason Japan Equity, Threadneedle UK Equity Income, Artemis Income and Newton Asian Income were other funds proving popular with investors through Bestinvest during May.