abrdn investments CEO Buehlmann: Closing GARS was 'difficult' but it was 'not right anymore'

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At its peak, GARS was one of the largest funds in the IA Target Absolute Return (TAR) sector, reaching £26.8bn assets under management. When it closed, the fund held £857m in assets, according to data from FE fundinfo.
It was decided that the once-mighty fund would cease operating as a standalone product and instead merged into the company’s diversified asset funds.
Buehlmann said that while it was a tough decision, the macroeconomic backdrop had changed so much that GARS was no longer a competitive offering.
“We were convinced that this was not the right product any longer for the…