Investment process

A comprehensive 3-stage process gives the opportunity to develop profitable investment insights, with safeguards to ensure effective decision-making.

Idea generation

The Multi-Asset Investing team uses fundamental analysis, quantitative research and valuation modelling to develop insights and strategies. The team also works with the company's asset class teams to inform its understanding of markets. GARS therefore draws on the collective expertise of more than 300 Standard Life Investments professionals.

Within the team, risk experts analyse each strategy proposal before it is implemented, focusing on the impact both in isolation and on the whole portfolio.

Oversight

Each strategy is reviewed and approved by the Strategic Investment Group, which contains our most tactical long-term thinkers. The approval of new strategies depends on:n:

• Conviction – expectation of a positive return, with acceptable levels of risk
• Diversification – whether a strategy will enhance the portfolio risk profile
• Liquidity - whether significant positions can be implemented and altered with little impact

Implementation

The Multi-Asset Investing team implements the approved investment strategies efficiently and effectively using an array of standard market instruments, e.g. direct investment, index futures and swaps. The team makes active asset allocation decisions and ensures the GARS portfolio meets robust risk management constraints.

The information contained on these pages is for investment professionals only and must not be relied upon by anyone else. This Fund is not guaranteed, a capital protected product or a substitute for cash. The value of your investments can go down as well as up. In order to achieve its investment objectives the Fund will make extensive use of derivatives.