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.
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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.
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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.”
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“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.
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The fund affected by this announcement is:

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