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From Kirsten Bischoff, Opalesque New York:

One of the likely beneficiaries of the investor trend of flocking to the “billion dollar plus” hedge funds will be Connecticut-based firm AQR Capital Management LLC. Opalesque has learned that so far in 2011 AQR has returned +9.6% (net) to investors into the firm’s Global Asset Allocation (GAA) strategy (relative value, multi-strategy). The 2010 performance for this strategy stood at +13.4%, and according to one investor the firm currently manages $1.8bn in assets through GAA as of March 1, 2011.

The firm’s $4.4bn Global Risk Premium (GRP) strategy (a risk parity strategy in a portfolio of liquid global asset class exposures) has gained +2.5% YTD, on the heels of +29.4% gains in 2010.

While many multi-billion dollar funds have faltered as of late, AQR’s returns place the firm solidly ahead of industry-wide performance. So far in 2011 the hedge fund industry has returned +2.15% (Hennessee Group), underperforming general market gains such as the S&P 500, which has notched +5.53% YTD, and the DJIA, which has gained +5.61% YTD. This underperformance has been attributed to managers cautious about the strong two-year rally, and their willingness “to sacrifice some upside participation in order to be protected in case of a correction,” opined Lee Hennessee, Managing Principal of the Hennessee Group in a statement released with that index’ February performance. ......................

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