Asset Allocation
Quant Hedge Fund Icon AQR Cuts Back as Investors Exit
Amid a laggard spell for these sophisticated math-centric firms, Cliff Asness’ shop has had a particularly tough time.
Institutional investors mostly want to direct their non-market-correlated strategies themselves, but acceptance of these retail-oriented alternatives is inching up.
AQR co-founder had called for adding more low-priced stocks, figuring their bad times had ended. Oops.
AQR, William Blair, and DFA all have seen their international equity strategies reduced by the San Francisco Employees’ Retirement System.