Standard & Poor’s Fund Services today assigned its four-star ‘NEW’ rating to the AQR Wholesale Managed Futures 1P Fund, an alternative strategy product focused on the trend-following managed futures or commodity trading adviser (CTA) sector.
U.S.-based manager AQR Capital Management LLC aims to offer investors exposure to the bulk of returns of trend-following managed futures trading in a liquid, transparent form, with internal diversification across up to 100 markets.
x
This is a new offering in the Australian marketplace, with only a short comparable track record in an offshore version. However, in our view, AQR has a strong history of such quantitative, rules-based products.
x
S&P Fund Services analyst Jason Patton said: “AQR does not pretend to the incremental alpha of the best managers of the sector, but the offering is priced accordingly, that is to say at the lower end of a traditionally expensive peer group.”
c
“We are positive in our forward-looking appraisal of the team, investment process, and risk-management framework. We view the fund as a genuinely differentiated offering and a strong newcomer to the peer group,” said Mr. Patton.
c
The fund affected by this announcement is:
