Mon, Oct 23, 2017
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Cliff Asness' AQR announces newest multi-strat mutual fund, launched with $20m of internal funds

Monday, July 18, 2011

David G. Kabiller
AQR Capital Management, LLC, ("AQR") announced the launch of AQR Multi-Strategy Alternative Fund (ASANX/ASAIX), the newest addition to its mutual fund family.

The new no-load mutual fund began operations on July 18, 2011 with a $20 million investment by AQR. The Fund's investment objective is to seek long-term positive absolute return through a broadly diversified portfolio of alternative strategies that are traditionally made available through hedge funds.

The Multi-Strategy Alternative Fund targets low correlation to traditional asset classes and seeks to provide exposure to nine different types of alternative strategies: Convertible Arbitrage, Event Driven (including Merger Arbitrage), Fixed Income Relative Value, Equity Market Neutral, Long/Short Equity, Dedicated Short Bias, Global Macro, Managed Futures and Emerging Markets.

"By providing investors with access to nine different alternative investment strategies," said David G. Kabiller, CFA, Founding Principal and Head of Client Strategies at AQR, "the AQR Multi-Strategy Alternative Fund attempts to provide a comprehensive solution to their alternative investment needs. In addition, by targeting low correlation to traditional asset classes, the Fund has the added benefit of potentially increasing investors' portfolio diversification." "As of today, there are only a relatively small number of mutual funds that pursue a similar multi-strategy approach. With AQR's extensive experience in managing multi-strategy portfolios for institutional clients, we believe that AQR is perfectly poised to respond to a growing market need among mutual fund investors. The launch of the Multi-Strategy Alternative Fund reinforces AQR's commitment to introducing innovative mutual funds that may help individual investors to build more efficient and diversified portfolios."

Distributed through financial advisors only, the Multi-Strategy Alternative Fund is the ninth mutual fund launched by AQR. Since the launch of the first fund in January of 2009, the AQR Funds have grown to over $4.7 B as of June 30, 2011.

(press release)

Source

kb

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Regulatory - David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge, Carried interest tax: How much does it matter?, Odey sees 'terrifying' mix in MiFID, tapering, asset values, Hedge funds come together to share cost of MiFID and research, SEC turns up the heat on U.S. investment advisers, India's Sebi asks hedge funds to report investments in commodity derivatives[more]

    David Stockman: Trump tax reform overhaul is a pipe dream, stocks are heading for 40-70% plunge From CNBC.com: David Stockman is warning about the Trump administration's tax overhaul plan, Federal Reserve policy, saying they could play into a severe stock market sell-off. Stockman, the R

  2. North America - Puerto Rico rejects loan offers, accusing hedge funds of trying to profit off hurricanes[more]

    From TheIintercept.com: Puerto Rico has rejected a bondholder group's offer to issue the territory additional debt as a response to the devastation of Hurricane Maria. Officials with Puerto Rico's Fiscal Agency and Financial Advisory Authority said the offer was "not viable" and would harm the islan

  3. Investing - WPP targeted by short-selling American hedge fund, Sun co-founder sells secretive hedge fund on big chip trade[more]

    WPP targeted by short-selling American hedge fund From Cityam.com: An American hedge fund has mounted a bet against WPP, the world's largest advertising group, with a trade worth almost £90m. Lone Pine Capital has built a short position worth 0.51 per cent of the FTSE 100 company,

  4. Hedge funds up as industry adjusts to rising rates[more]

    Komfie Manalo, Opalesque Asia: Hedge funds have reshuffled their portfolio after nearly four weeks of rising rates as the Lyxor Hedge Fund Index was up +0.2% from 19 September to 26 (+1.1% YTD), fuelled by strong results of global macro funds, Lyxor Ass

  5. Manager Profile - How the world's hedge fund king used 'idea meritocracy' to become a billionaire[more]

    From Forbes.com: In 1982, Ray Dalio made what he calls the biggest mistake of his life. He made a bet that there would be an economic collapse stemming from a debt crisis. And he was wrong. He lost money. He lost his client's money. He had to let people go from his firm and borrow money from his dad