Cliff Asness
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Cliff Asness’ longest working multistrategy fund at AQR Money Management returned 18.5% previous yr, internet of expenses, in accordance to a person familiar with the functionality.
The AQR Complete Return tactic, which was made in 1998, benefited the most from lucrative picks among the benefit shares in 2023, according to the human being, who spoke anonymously for the reason that the overall performance specifics are personal. The fund liked its ideal year in 2022, rallying 43.5%.
The firm’s focused price approach, the AQR Fairness Sector Neutral Worldwide Worth method, gained 20.6% in 2023, the person stated. This reflects AQR’s excellent stock assortment as the broader Russell 1000 benefit index only returned 8.8% final calendar year.
Asness co-started AQR in 1998 after a stint at Goldman Sachs. He and his partners recognized the quant-pushed firm’s investment decision philosophy at University of Chicago’s Ph.D. application, concentrating on worth and momentum methods.
AQR has $99 billion in belongings below administration as of Dec. 31. AQR declined to remark.
The firm’s substitute development following method, AQR Helix System, posted a net return of 14.3% in 2023, the person said. The gains were fueled by alternative commodity marketplaces, this sort of as iron ore as perfectly as European purely natural fuel and energy selling prices, the man or woman explained.
The AQR Apex Method, a new multistrategy fund established in 2020, attained 16.2% final calendar year, the individual claimed.
However, AQR’s different cash did not top rated the broader industry very last yr. The S&P 500 rallied 24% in 2023, boosted by mega-cap engineering names. The tech-heavy Nasdaq Composite ended the 12 months up 43.4% for its ideal year considering that 2020.