Friday, 31 October 2014
Last updated 13 hours ago
Aug 14 2007 | 10:36am ET
AQR Capital Management had raised about $1 billion for a number of its hedge funds as it tries to swat down rumors of impending doom.
The Wall Street Journal reports that the Greenwich, Conn.-based firm, which manages about $10 billion in hedge fund assets, has won commitments from both existing and new investors for the cash infusion.
AQR said on Friday that its quantitative stock selection strategy had suffered “shockingly bad” losses in August—reportedly as high as 21%. But other AQR funds have apparently not had it nearly as bad, with the firm claiming some are in the black month-to-date.
The fresh investment in its funds comes hot on the heals of a similar announcement by Goldman Sachs, which has arranged a $3 billion “equity investment” into its Global Equity Opportunities Fund, a quant fund that is down 28% this month.
Sep 22 2014 | 4:15pm ET
"I tell people that everybody likes good news and so if you have good performance that’s wonderful,” explains Mike McKitish of Peddie School's endowment, “but it’s the people that want to talk about the bad news or where they drifted and how they came back and how they stayed to their discipline…” that he wants to hear from. Read more…
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