AQR achieves a geeks' revenge
Sat Jul 1, 2006
Both hedged and long-only, AQR finds uncorrelated returns and sticky assets.
By Josh Friedlander
AQR Capital Management claims to have one of the most
thoughtful and least market-correlated returns in the money
management industry. It's not a black box but a finely tuned
system with a rarefied academic approach. AQR's blue chip
institutional clients would appear to agree, having entrusted
the firm with $25 billion in capital - $8 billion in hedge fund
assets and the rest in long-only vehicles.
"We are the geeks we claim to be," sighs co-founder Cliff
Asness, the firm's managing principal known for his clever
commentary and rumpled professorial look.
Coming out of Goldman Sachs, where Asness led the effort to
found the firm's Global Alpha hedge fund, he and three partners
launched AQR in 1998 as a high-risk, high-return hedge fund
along the lines of their alma mater, with which the firm is
still compared. But unlike their mostly bullish competition,
AQR's strategy, more value-oriented...
ISSN: 2151-1845 / CDC10004H
The full contents of this article are available to active AR subscribers and trialists only.
TAKE A FREE TRIAL
To continue reading please, take a free trial, subscribe or log in to AR.
Subscribers have unlimited access to all current and archive content. Start your subscription today - click on the button below.