Cliff Asness’s AQR multi-strategy hedge treasure returns 9% within the first quarter all the way through difficult statuses

AQR Capital Control’s multistrategy hedge treasure beat the marketplace with a 9% rally within the first quarter as Wall Side road grappled with utmost volatility amid President Donald Trump’s unsure tariff coverage.

The Apex method from Cliff Asness’ company, which mixes shares, macro and arbitrage trades and has $3 billion in property beneath control, received 3.4% in March, boosting its first-quarter efficiency, in step with an individual habitual with AQR’s returns who requested to be nameless as the tips is non-public.

AQR’s Delphi Lengthy-Decrease Fairness Technique received 9.7% within the first quarter, life its extra trend-following providing Helix returned 3%, the individual mentioned.

AQR, whose property beneath control reached $128 billion on the finish of March, declined to remark.

The retain marketplace simply wrapped up a tumultuous quarter as Trump’s competitive price lists raised issues about an dreadful financial slowdown and a re-acceleration of inflation. The S&P 500 dipped into correction space in March nearest hitting a document in February.

For the quarter, the fairness benchmark used to be ill 4.6%, snapping a five-quarter win streak. The tech-heavy Nasdaq Composite misplaced 10.4% within the quarter, which might mark its greatest quarterly pullback since a 22.4% plunge in the second one quarter of 2022.