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AQR Style Premia Alternative II Fund in registration
What is the difference with the new fund? Perhaps they are planning to close the existing fund and put new investors in this one instead?
QSPIX has done very well since it opened. Even more so for the related QMNIX. These were on my watchlist, but recently AQR seems to have made it more difficult to access them for less than the $1m/$5m minimums. See the discussion here: https://www.bogleheads.org/forum/viewtopic.php?t=175359
Seems like Scottrade is one of the few available options right now.
A poster on the Bogleheads forum helpfully pointed out the difference between the upcoming fund and the current (closing) fund:
"By the way, nobody seems to have mentioned the difference between Style Premia Alternative (I) and Style Premia Alternative II. Looks like the latter uses equities, bonds, and currencies only, according to the filing. The original adds commodities and interest rates to that. This means that the new fund doesn't need the Cayman Islands subsidiary, as is common practice for running commodities trading.
I wonder if the risk weighting by asset class is going to change. Equities are already over half the old fund by risk (not by nominal dollar)."
Comments
QSPIX has done very well since it opened. Even more so for the related QMNIX. These were on my watchlist, but recently AQR seems to have made it more difficult to access them for less than the $1m/$5m minimums. See the discussion here: https://www.bogleheads.org/forum/viewtopic.php?t=175359
Seems like Scottrade is one of the few available options right now.
"By the way, nobody seems to have mentioned the difference between Style Premia Alternative (I) and Style Premia Alternative II. Looks like the latter uses equities, bonds, and currencies only, according to the filing. The original adds commodities and interest rates to that. This means that the new fund doesn't need the Cayman Islands subsidiary, as is common practice for running commodities trading.
I wonder if the risk weighting by asset class is going to change. Equities are already over half the old fund by risk (not by nominal dollar)."
https://www.bogleheads.org/forum/viewtopic.php?f=10&t=178649#p2705215