Cliff Asness.
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Cliff Asness’ longest operating multistrategy fund at AQR Money Management returned 18.5% previous year, net of fees, according to a man or woman common with the overall performance.
The AQR Complete Return approach, which was developed in 1998, benefited the most from lucrative picks amid worth shares in 2023, according to the individual, who spoke anonymously due to the fact the effectiveness information are private. The fund relished its ideal calendar year in 2022, rallying 43.5%.
The firm’s dedicated value strategy, the AQR Equity Sector Neutral World Benefit system, acquired 20.6% in 2023, the man or woman stated. This demonstrates AQR’s remarkable inventory choice as the broader Russell 1000 worth index only returned 8.8% final 12 months.
Asness co-started AQR in 1998 after a stint at Goldman Sachs. He and his associates proven the quant-driven firm’s investment decision philosophy at the College of Chicago’s Ph.D. plan, focusing on benefit and momentum strategies.
AQR has $99 billion in property beneath management as of Dec. 31. AQR declined to comment.
The firm’s option development pursuing tactic, the AQR Helix Tactic, posted a net return of 14.3% in 2023, the person claimed. The gains ended up fueled by alternate commodity marketplaces, these as iron ore as perfectly as European normal gas and electric power price ranges, the human being mentioned.
The AQR Apex Tactic, a new multistrategy fund established in 2020, obtained 16.2% past calendar year, the man or woman mentioned.
However, AQR’s various cash didn’t prime the broader marketplace very last year. The S&P 500 rallied 24% in 2023, boosted by mega-cap technology names. The tech-heavy Nasdaq Composite ended the 12 months up 43.4% for its best 12 months due to the fact 2020.
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