47:
1558:
1548:
1538:
1568:
1245:
38:
390:. The firm's first product was a hedge fund, though it soon (2000) entered into traditional portfolio management. In 2001, AQR had nearly $ 750 million assets under management. In 2004, AQR had $ 12 billion assets under management. The firm opened its first international office in Australia in 2005.
479:
In 2015, AQR established QUANTA Academy, the firm's learning and development program, which is focused on three core pillars: Technical Skills and
Knowledge, Leadership and Management, and Personal Enrichment. With a focus on lifelong learning, the program is designed to help employees reach their
491:
to establish The AQR Asset
Management Institute, which focuses on asset management research and thought leadership. The Institute rewards scholars in the field with annual grants and prizes. AQR donated more than $ 15 million to be spread out over ten years.
673:
287:. This disciplined approach of identifying long-term, repeatable sources of return means "having a high conviction in the process, but not a high conviction in any particular stock". The firm is a strong proponent of
483:
AQR's
Insight Award (see below), which “recognizes the most significant and innovative academic research that offers practical applications for investors,” awarded its fifth annual slate of winners in 2016.
321:
AQR is perhaps best known for its alternative investment strategies, which aim to offer low correlation to traditional, equity-dominated portfolios. AQR was one of the first investment managers to offer a
376:, where he was asked to lead a new quantitative research team within the firm's asset management division. Liew and Krail joined him, and the new team applied what they learned in academia to manage both
1617:
1602:
318:— have been well-known and used in quantitative investing for decades, AQR has long advocated for using these styles together, citing their diversifying qualities.
1541:
947:
832:
650:
1592:
970:
572:
1607:
1518:
519:
1422:
393:
In 2009, AQR became one of the first investment managers to offer alternative mutual funds. In 2011, the firm opened an office in the
726:
1597:
911:
17:
1122:
1064:
886:
698:
387:
338:
strategy that is “uncorrelated with other asset classes” and supported by over a century of academic evidence.
342:
60:
1561:
1396:
1384:
1095:
496:
292:
1523:
1467:
1186:
1113:
1057:
524:
403:
After AQR Annual Profit plunged 34% in 2018, the management firm announced job cuts in
January 2019.
288:
472:
As of 2016, approximately half of the AQR's employees have earned advanced degrees, with 52 holding
1360:
1230:
992:
860:
727:"Lindsey, Richard & Schachter, Barry (2007) "How I Became a Quant" John Wiley & Sons, Inc"
625:
1462:
1370:
1365:
1329:
1226:
1190:
169:
1472:
1269:
1142:
1118:
1103:
488:
236:
224:
212:
137:
386:
AQR was among the first hedge fund managers to voluntarily register at its inception with the
1497:
1155:
1127:
1108:
366:
208:
649:
372:
While still working on his dissertation, which focused on momentum and value, Asness joined
243:. The firm is primarily owned by its founders and principals. AQR has additional offices in
1612:
1551:
1402:
1314:
1150:
1132:
1050:
473:
8:
1571:
1477:
1457:
1284:
1259:
284:
600:
306:, or factor, investing given the strategy's academic roots. Although the four styles —
1482:
1427:
1339:
539:
499:, which honors the PhD graduates whose research carries the greatest potential impact.
315:
311:
78:
1205:
1181:
1165:
915:
757:
383:
In 1998, Asness, David
Kabiller, Krail and Liew left Goldman Sachs to establish AQR.
369:’s PhD program, where the foundation of the firm's investment philosophy took shape.
350:
240:
228:
1374:
1309:
748:
296:
1513:
1417:
1407:
1388:
1355:
1279:
1274:
1210:
1195:
335:
331:
307:
303:
232:
1412:
1392:
1160:
674:"Morningstar (January 7, 2016) "The Year in Alternative Funds" Morningstar.com"
394:
349:
in 2009. The firm's liquid alternative strategies were a “category leader” in
220:
117:
853:
851:
37:
1586:
1487:
1452:
1378:
1015:
761:
702:
373:
573:"How AQR's Liquid Alternative Funds Are Outperforming Competitors" Barron's"
1492:
1447:
1334:
1319:
1200:
848:
362:
216:
112:
629:. No. Markets. New York, N.Y., United States: Financial Times. Nikkei
604:. No. Interview. United States: Barron's. Dow Jones & Company Inc
1324:
1264:
983:
346:
323:
252:
938:
616:
46:
1073:
806:
782:
377:
73:
400:
As of Q3 2019, the firm had $ 185 billion in assets under management.
1090:
641:
283:
AQR employs a research-based "systematic and consistent approach" to
260:
256:
1244:
1016:""AQR Top Finance Graduate Award at CBS" Copenhagen Business School"
495:
The firm is also a sponsor of the AQR Top
Finance Graduate Award at
993:"AQR gives London Business School ÂŁ10m to build 'Davos of finance'"
756:. United States: Wall Street Journal. Dow Jones & Company Inc.
565:
563:
561:
559:
248:
823:
326:
strategy, which aims to balance allocations based on underlying
833:"AQR Annual Profit Plunges 34% in Rough Environment for Quants"
593:
591:
268:
264:
244:
1042:
651:"Cliff Asness's Alternative Funds Top Rivals With 17% Returns"
556:
341:
AQR was one of the first investment management firms to offer
272:
588:
948:"AQR honors 2 groups of academics for annual Insight Award"
520:"Millennium, Point72 among hedge funds boosting staff size"
327:
51:
Location of AQR Capital's offices in
Greenwich, Connecticut
626:"AQR Capital launches first quantitative bond mutual fund"
971:""AQR Asset Management Institute" London Business School"
887:"Down market slamming AQR but firm keeps faith in future"
739:
291:
within portfolios, as well as adding strategies with low
864:. New York, N.Y., United States: Financial Times. Nikkei
215:, United States. The firm, which was founded in 1998 by
749:"Hedge Funds Start to Lose Their Fast-Growing Mystique"
278:
951:. Pensions & Investments. Crain Communications Inc
576:. United States: Barron's. Dow Jones & Company Inc
207:(short for Applied Quantitative Research) is a global
1037:
480:
full potential through hundreds of courses annually.
1618:
Investment management companies of the United States
996:. No. Business school. Financial Times. Nikkei
654:. No. Economics. Bloomberg News. Bloomberg L.P
223:, John Liew, and Robert Krail, offers a variety of
991:
946:
859:
831:
747:
624:
599:
571:
861:"AQR announces job cuts after disappointing 2018"
193:
1603:Financial services companies established in 1998
1584:
330:rather than asset classes. The firm also offers
1058:
857:
622:
1542:Alternative investment management companies
1519:Standards Board for Alternative Investments
1567:
1423:Taxation of private equity and hedge funds
1065:
1051:
989:
836:. New York, N.Y., United States: Bloomberg
721:
719:
693:
691:
689:
666:
406:
365:, Robert Krail and John Liew — met in the
45:
912:""Who We Are – Academic Engagement" AQR"
904:
829:
754:The Wall Street Journal. Eastern Edition
299:as a complement to existing portfolios.
716:
686:
14:
1585:
858:Wigglesworth, Robin (8 January 2019).
517:
1593:Hedge fund firms of the United States
1123:fixed-income relative-value investing
1046:
881:
879:
745:
647:
513:
511:
361:Three of AQR's founding principals —
990:Mackintosh, James (4 January 2015).
944:
830:Stratton, Alexandra (2 April 2019).
623:Wigglesworth, Robin (5 April 2018).
597:
569:
279:Investment philosophy and strategies
1008:
963:
467:
24:
1608:1998 establishments in Connecticut
876:
648:Stein, Charles (14 January 2016).
601:"Preaching the Gospel of Momentum"
508:
388:Securities and Exchange Commission
25:
1629:
1031:
570:Bary, Andrew (27 February 2016).
164:Cliff Asness (Managing Principal)
27:Global investment management firm
1566:
1557:
1556:
1547:
1546:
1537:
1536:
1243:
487:In 2014, AQR partnered with the
36:
1598:Hedge fund firms in Connecticut
1072:
929:
799:
775:
746:Brown, Ken (22 February 2001).
598:Bary, Andrew (31 August 2009).
518:Tomkiw, Lydia (15 April 2024).
532:
13:
1:
502:
1397:security characteristic line
302:AQR was an early adopter of
7:
1385:Capital asset pricing model
1104:Capital structure arbitrage
945:Burr, Barry (13 May 2016).
93:; 26 years ago
10:
1634:
1187:Commodity trading advisors
891:Pensions & Investments
699:"Who We Are – Our History"
525:Pensions & Investments
497:Copenhagen Business School
356:
345:, launching its family of
1532:
1524:Managed Funds Association
1506:
1468:High-net-worth individual
1440:
1348:
1302:
1293:
1252:
1241:
1219:
1174:
1141:
1089:
1080:
188:
178:
168:
158:
148:
132:
105:
87:
66:
56:
44:
35:
1361:Arbitrage pricing theory
343:alternative mutual funds
1473:Institutional investors
1366:Assets under management
1191:managed futures account
407:Assets under management
1498:Sovereign wealth funds
1270:High-frequency trading
1119:Fixed income arbitrage
489:London Business School
380:and long-only assets.
285:portfolio construction
213:Greenwich, Connecticut
205:AQR Capital Management
174:$ 99 billion (Q4 2023)
138:Greenwich, Connecticut
31:AQR Capital Management
18:AQR Capital Management
1340:Structured securities
1156:Distressed securities
1128:Statistical arbitrage
1114:Equity market neutral
1109:Convertible arbitrage
367:University of Chicago
353:’s ranking for 2015.
209:investment management
1458:Financial endowments
1403:Fundamental analysis
1151:Shareholder activism
1133:Volatility arbitrage
1572:List of hedge funds
1562:Hedge fund managers
1478:Insurance companies
1463:Fund of hedge funds
1371:Black–Scholes model
1285:Proprietary trading
1260:Algorithmic trading
1227:Fund of hedge funds
412:
233:investment vehicles
180:Number of employees
32:
1428:Technical analysis
540:"Office Locations"
411:
241:financial advisors
79:Financial services
30:
1580:
1579:
1436:
1435:
1239:
1238:
1206:Long/short equity
1182:Convergence trade
1166:Special situation
465:
464:
202:
201:
91:January 1998
16:(Redirected from
1625:
1570:
1569:
1560:
1559:
1550:
1549:
1540:
1539:
1483:Investment banks
1330:Foreign exchange
1300:
1299:
1247:
1087:
1086:
1067:
1060:
1053:
1044:
1043:
1038:Official website
1026:
1025:
1023:
1022:
1012:
1006:
1005:
1003:
1001:
995:
987:
981:
980:
978:
977:
967:
961:
960:
958:
956:
950:
942:
936:
933:
927:
926:
924:
923:
914:. Archived from
908:
902:
901:
899:
898:
883:
874:
873:
871:
869:
863:
855:
846:
845:
843:
841:
835:
827:
821:
820:
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803:
797:
796:
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779:
773:
772:
770:
768:
751:
743:
737:
736:
734:
733:
723:
714:
713:
711:
710:
701:. Archived from
695:
684:
683:
681:
680:
670:
664:
663:
661:
659:
653:
645:
639:
638:
636:
634:
628:
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614:
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609:
603:
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586:
585:
583:
581:
575:
567:
554:
553:
551:
550:
536:
530:
529:
515:
468:Ties to academia
413:
410:
314:, defensive and
231:and traditional
198:
195:
101:
99:
94:
49:
40:
33:
29:
21:
1633:
1632:
1628:
1627:
1626:
1624:
1623:
1622:
1583:
1582:
1581:
1576:
1528:
1514:Fund governance
1502:
1432:
1356:Absolute return
1344:
1295:
1289:
1280:Program trading
1275:Prime brokerage
1248:
1235:
1215:
1211:Trend following
1196:Dedicated short
1170:
1137:
1094:
1082:
1076:
1071:
1034:
1029:
1020:
1018:
1014:
1013:
1009:
999:
997:
988:
984:
975:
973:
969:
968:
964:
954:
952:
943:
939:
934:
930:
921:
919:
910:
909:
905:
896:
894:
885:
884:
877:
867:
865:
856:
849:
839:
837:
828:
824:
815:
813:
805:
804:
800:
791:
789:
781:
780:
776:
766:
764:
744:
740:
731:
729:
725:
724:
717:
708:
706:
697:
696:
687:
678:
676:
672:
671:
667:
657:
655:
646:
642:
632:
630:
621:
617:
607:
605:
596:
589:
579:
577:
568:
557:
548:
546:
538:
537:
533:
516:
509:
505:
470:
420:
409:
359:
336:trend-following
332:managed futures
295:to traditional
289:diversification
281:
192:
181:
161:
151:
144:
140:
128:
97:
95:
92:
83:
52:
28:
23:
22:
15:
12:
11:
5:
1631:
1621:
1620:
1615:
1610:
1605:
1600:
1595:
1578:
1577:
1575:
1574:
1564:
1554:
1544:
1533:
1530:
1529:
1527:
1526:
1521:
1516:
1510:
1508:
1504:
1503:
1501:
1500:
1495:
1490:
1488:Merchant banks
1485:
1480:
1475:
1470:
1465:
1460:
1455:
1453:Family offices
1450:
1444:
1442:
1438:
1437:
1434:
1433:
1431:
1430:
1425:
1420:
1415:
1413:Securitization
1410:
1405:
1400:
1382:
1368:
1363:
1358:
1352:
1350:
1346:
1345:
1343:
1342:
1337:
1332:
1327:
1322:
1317:
1312:
1306:
1304:
1297:
1291:
1290:
1288:
1287:
1282:
1277:
1272:
1267:
1262:
1256:
1254:
1250:
1249:
1242:
1240:
1237:
1236:
1234:
1233:
1223:
1221:
1217:
1216:
1214:
1213:
1208:
1203:
1198:
1193:
1184:
1178:
1176:
1172:
1171:
1169:
1168:
1163:
1161:Risk arbitrage
1158:
1153:
1147:
1145:
1139:
1138:
1136:
1135:
1130:
1125:
1116:
1111:
1106:
1100:
1098:
1096:relative value
1084:
1078:
1077:
1070:
1069:
1062:
1055:
1047:
1041:
1040:
1033:
1032:External links
1030:
1028:
1027:
1007:
982:
962:
937:
928:
903:
875:
847:
822:
798:
774:
738:
715:
685:
665:
640:
615:
587:
555:
531:
506:
504:
501:
469:
466:
463:
462:
459:
455:
454:
451:
447:
446:
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439:
438:
435:
431:
430:
427:
423:
422:
417:
408:
405:
358:
355:
280:
277:
225:quantitatively
221:David Kabiller
211:firm based in
200:
199:
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186:
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176:
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172:
166:
165:
162:
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156:
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127:
126:
123:
120:
118:David Kabiller
115:
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102:
89:
85:
84:
82:
81:
76:
70:
68:
64:
63:
58:
54:
53:
50:
42:
41:
26:
9:
6:
4:
3:
2:
1630:
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1616:
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1606:
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1599:
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1590:
1588:
1573:
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1555:
1553:
1545:
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1535:
1534:
1531:
1525:
1522:
1520:
1517:
1515:
1512:
1511:
1509:
1505:
1499:
1496:
1494:
1493:Pension funds
1491:
1489:
1486:
1484:
1481:
1479:
1476:
1474:
1471:
1469:
1466:
1464:
1461:
1459:
1456:
1454:
1451:
1449:
1448:Vulture funds
1446:
1445:
1443:
1439:
1429:
1426:
1424:
1421:
1419:
1416:
1414:
1411:
1409:
1406:
1404:
1401:
1398:
1394:
1390:
1386:
1383:
1380:
1379:delta neutral
1376:
1372:
1369:
1367:
1364:
1362:
1359:
1357:
1354:
1353:
1351:
1347:
1341:
1338:
1336:
1335:Money markets
1333:
1331:
1328:
1326:
1323:
1321:
1318:
1316:
1313:
1311:
1308:
1307:
1305:
1301:
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1292:
1286:
1283:
1281:
1278:
1276:
1273:
1271:
1268:
1266:
1263:
1261:
1258:
1257:
1255:
1251:
1246:
1232:
1231:Multi-manager
1228:
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1218:
1212:
1209:
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1202:
1199:
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1183:
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1177:
1173:
1167:
1164:
1162:
1159:
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1152:
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1148:
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1144:
1140:
1134:
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1117:
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1102:
1101:
1099:
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1088:
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1039:
1036:
1035:
1017:
1011:
994:
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918:on 2016-07-15
917:
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892:
888:
882:
880:
862:
854:
852:
834:
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812:
808:
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788:
784:
778:
763:
759:
755:
750:
742:
728:
722:
720:
705:on 2016-07-15
704:
700:
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692:
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675:
669:
652:
644:
627:
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594:
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564:
562:
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541:
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404:
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398:
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391:
389:
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381:
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375:
374:Goldman Sachs
370:
368:
364:
354:
352:
348:
344:
339:
337:
333:
329:
325:
319:
317:
313:
309:
305:
300:
298:
297:asset classes
294:
290:
286:
276:
274:
270:
266:
262:
258:
254:
250:
246:
242:
238:
237:institutional
234:
230:
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218:
214:
210:
206:
197:
191:
187:
183:
177:
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171:
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147:
143:United States
139:
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131:
124:
121:
119:
116:
114:
111:
110:
108:
104:
90:
86:
80:
77:
75:
72:
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1325:Fixed income
1201:Global macro
1143:Event-driven
1019:. Retrieved
1010:
998:. Retrieved
985:
974:. Retrieved
965:
953:. Retrieved
940:
931:
920:. Retrieved
916:the original
906:
895:. Retrieved
893:. 2020-06-29
890:
866:. Retrieved
838:. Retrieved
825:
814:. Retrieved
810:
801:
790:. Retrieved
786:
777:
765:. Retrieved
753:
741:
730:. Retrieved
707:. Retrieved
703:the original
677:. Retrieved
668:
656:. Retrieved
643:
631:. Retrieved
618:
606:. Retrieved
578:. Retrieved
547:. Retrieved
543:
534:
523:
494:
486:
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371:
363:Cliff Asness
360:
347:mutual funds
340:
320:
301:
282:
239:clients and
217:Cliff Asness
204:
203:
133:Headquarters
125:Robert Krail
113:Cliff Asness
57:Company type
1613:Hedge funds
1552:Hedge funds
1315:Derivatives
1310:Commodities
1265:Day trading
1175:Directional
1074:Hedge funds
1000:12 February
811:www.aqr.com
787:www.aqr.com
544:www.aqr.com
419:AUM in Bil.
351:Morningstar
324:risk parity
293:correlation
253:Los Angeles
229:alternative
150:Area served
1587:Categories
1507:Governance
1081:Investment
1021:2016-06-03
976:2016-06-03
922:2016-06-03
897:2020-11-28
816:2019-03-26
807:"Our Firm"
792:2019-03-11
783:"Our Firm"
732:2016-06-03
709:2016-06-03
679:2016-06-03
549:2019-03-01
503:References
378:hedge-fund
184:573 (2023)
160:Key people
74:Hedge fund
1441:Investors
1091:Arbitrage
840:3 October
762:0099-9660
261:Hong Kong
257:Bangalore
154:Worldwide
122:John Liew
1083:strategy
868:26 March
312:momentum
235:to both
106:Founders
67:Industry
1303:Markets
1294:Related
1253:Trading
935:AQR.com
767:2 March
633:5 March
608:5 March
357:History
249:Chicago
227:driven
189:Website
98:1998-01
96: (
88:Founded
1375:Greeks
1320:Equity
955:3 June
760:
658:3 June
580:3 June
421:USD$
271:, and
269:Sydney
265:London
245:Boston
1418:Short
1408:Hedge
1389:alpha
1296:terms
1220:Other
458:2020
442:2017
316:carry
308:value
304:style
273:Tokyo
1393:beta
1349:Misc
1002:2019
957:2016
870:2019
842:2019
769:2019
758:ISSN
660:2016
635:2019
610:2019
582:2016
474:PhDs
461:143
453:193
450:2018
445:224
434:2015
426:2009
416:Year
334:, a
328:risk
196:.com
437:23
429:20
194:aqr
170:AUM
61:LLC
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395:UK
310:,
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