Saturday, 30 May 2015
Last updated 15 hours ago
Dec 7 2007 | 10:58am ET
It’s been a year to forget for investors in AQR Capital Management’s flagship fund, and things are getting worse before they get better.
The Greenwich, Conn.-based quantitative hedge fund giant, already battered—like many of its quant brethren—by market turmoil in July, and again in October, saw its $4 billion AQR Absolute Return Fund drop another 5.8% last month. The losses in the fund leave it down 11.9% year-to-date, the New York Post reports.
AQR, which manages $11 billion in hedge fund assets and $25 billion in long-only funds, is used to double-digit returns, rather than double-digit losses. The firm had reportedly been pondering an initial public offering earlier this year, before the subprime crisis spread to the broader market, sending its flagship down 13% in early July. The fund recouped about half of those losses, but declined another 3.2% in October.
May 27 2015 | 2:15pm ET
Support Hedge Funds Care, also known as Help For Children (HFC), by participating in this year's raffle. All proceeds go to support HFC's mission of preventing and treating child abuse. Read more…