Like a cliff.
Chris Goodney | Bloomberg | Getty Images
AQR Capital Management’s MultiStrategy Hedge Fund broke the market with a 9% rally in the first quarter as it tackled extreme volatility amid President Donald Trump’s uncertain tariff policy.
Cliff Asness’ Firm’s Apex strategy, which combines stock, macro and arbitrage trading, won 3.4% in March, boosting first quarter performance.
AQR’s Delphi Long-Short Equity Strategy scored 9.7% in the first quarter, while its alternative trend following provider Helix returned 3%.
AQR, whose managed assets reached $128 billion at the end of March, declined to comment.
Stock markets concluded the tumultuous quarter as Trump’s aggressive tariffs sparked concerns about a severe economic slowdown and a re-acceleration of inflation. The S&P 500 went into the revised territory in March after recording records in February.
The quarterly equity benchmark fell 4.6%, earning a five-quarter straight win. Tech Heavy Nasdaq Composite marks the largest pullback in the quarter since losing 10.4% in the quarter and plunging 22.4% in the second quarter of 2022.
