Over the last seven years, we've built up ALTU to over $2 billion, and it's performed incredibly well over that period. ALTU has validated this style of investing, and we now want to take that style into a more global opportunity set.
What is the style? At its heart, it is very simple. We seek to find great businesses and then compound their returns over the long term. We invest with an absolute return mindset, giving a significantly less volatile journey; that allows us to capture long-term growth and offer good downside protection. If we look at our Asia strategy over its seven-year life, it has delivered market-beating returns, but with a lower beta and two-thirds of the market volatility.
The learning we have built over this period has given us the confidence first to design and now to launch a global version of that strategy. Global Long-Term Unconstrained has many similar characteristics to ALTU but has evolved to enable us to deliver on a much broader stage. In our development phase, we have undertaken significant back tests, and these confirm to us that we can deliver market-beating returns over time with GLTU again with a lower beta and significantly less volatility than the market.