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The literature on the AQR site has me dumbfounded. I own AQRNX today and am happy with it. The same managers now running two more of such funds - one with MV and one with HV - different levels of volatility.
So is AQRNX VHV or Very High Volatility or is it LV = Less Volatility?
Risk Parity II (which comes in HV/MV flavors) is somewhat different in terms of what assets it holds.
From the prospectuses ("prospecti?")
AQR Risk Parity: "The Fund pursues its investment objective by allocating assets among major liquid asset classes (including global developed and emerging market equities, global nominal and inflation-linked government bonds, emerging market fixed income, sovereign debt, the credit spreads of mortgage-backed securities and corporate and sovereign debt, developed and emerging market currencies, and commodities)."
AQR Risk Parity II: "The Fund pursues its investment objective by allocating assets among major liquid asset classes (including global developed and emerging market equities, global nominal and inflation-linked government bonds, developed and emerging market currencies, and commodities)."
Reply to @VintageFreak: AQR entirely changed its strategy (and I believe pretty much stated as much if I remember correctly) to market primarily to advisors not long after the launch of their funds, which is probably a much more sustainable strategy as they're marketing towards advisers with larger pools of $ to invest than most retail investors.
I continue to hold AQR funds and am not bothered by their launch of a wider array of funds. They closed AQRNX and are offering a different version of the strategy, as there was clearly still demand, given the popularity of AQRNX.
Thanks Scott. Didn't even know AQRNX was closed. M* lists it as open even right now. Am going to research their Multialternative fund. Happenned to notice on their website when I was there.
Comments
From the prospectuses ("prospecti?")
AQR Risk Parity: "The Fund pursues its investment objective by allocating assets among major liquid asset classes (including global developed and
emerging market equities, global nominal and inflation-linked government bonds, emerging market fixed income, sovereign debt, the
credit spreads of mortgage-backed securities and corporate and sovereign debt, developed and emerging market currencies, and
commodities)."
AQR Risk Parity II: "The Fund pursues its investment objective by allocating assets among major liquid asset classes (including global developed and
emerging market equities, global nominal and inflation-linked government bonds, developed and emerging market currencies, and
commodities)."
Same question. Does this make a diff?
I want to understand the necessity. Fund will not sustain itself without demand and AQR actually does very little marketing to individual investors.
I continue to hold AQR funds and am not bothered by their launch of a wider array of funds. They closed AQRNX and are offering a different version of the strategy, as there was clearly still demand, given the popularity of AQRNX.
Best.