AQR Delphi Long-Short Equity Strategy
Systematically focused on stocks with lower statistical and fundamental risk
As quantitative investors, we look for a systematic way to create consistent and repeatable returns.
Using proprietary investment research to identify stocks across global, developed large and small cap equity markets, the strategy aims to outperform global equity markets while providing a highly diversifying source of returns.
To achieve this, we strive to buy the stocks of companies with lower sensitivity to market moves and with high quality businesses. When choosing these stocks, we also consider their price relative to fundamentals to try and avoid overpaying for “expensive” companies. We tend to short stocks with the opposite characteristics – those that have a higher sensitivity to market moves and represent lower quality businesses.
This combination of long/short investing results in a defensive approach, making the Sustainable Delphi Long-Short Equity Strategy unique in that it is uncorrelated to the most commonly held exposures of existing equity managers.
We look for stocks that exhibit three characteristics: low statistical risk (low beta), low fundamental risk (quality) and value:
There is significant empirical evidence that higher statistical risk can lead to lower risk adjusted returns.
U.S. Equities (Betting Against Beta)
January 1926 - December 2018
Investment in any of the funds described on this website carries substantial risk, including the possible loss of principal. There is no guarantee that the investment objectives of the funds will be achieved and returns may vary significantly over time. Investment in the funds described on this website is not suitable for all investors. Not all funds or share classes are available to all investors.
Fund offering documents contain risk warnings that are specific to each fund. Investors should only invest in a fund once they have thoroughly reviewed the prospectus and Key Investor Information Document (“KIID”) for the fund and carefully considered the relevant investment objectives, risks, charges and fees. Investors may wish to consult an independent financial advisor for personal and specific investment advice before investing.
The Fund is a sub-fund of AQR UCITS Funds, a Luxembourg based UCITS of which the management company is FundRock Management Company S.A.
The information contained on this website is for informational purposes only and does not constitute an offer or invitation to buy, sell or otherwise transact in any security. The information on this site is directed only at persons or entities in any jurisdiction or country where such access to information contained on this website and use of such information is not contrary to local law or regulation. Accordingly, all persons who access this website are required to inform themselves of and to comply with any such restrictions. The prospectus, KIID and the latest periodic reports for each fund are available free of charge.
Past performance does not guarantee future results.
This document is a marketing document in the European Economic Area (“EEA”) and approved as a Financial Promotion in the United Kingdom (“UK”). It is only intended for Professional Clients.
Information for clients in the United Kingdom
The information set forth herein has been prepared and issued by AQR Capital Management (Europe) LLP, a UK limited liability partnership with its office at Charles House 5-11, Regent St., London, SW1Y 4LR, which is authorised and regulated by the UK Financial Conduct Authority (“FCA”).
Information for clients in the EEA
AQR in the European Economic Area is AQR Capital Management (Germany) GmbH, a German limited liability company (Gesellschaft mit beschränkter Haftung; “GmbH”), with registered offices at Maximilianstrasse 13, 80539 Munich, authorized and regulated by the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht, „BaFin“), with offices at Marie-Curie-Str. 24-28, 60439, Frankfurt am Main und Graurheindorfer Str. 108, 53117 Bonn, to provide the services of investment advice (Anlageberatung) and investment broking (Anlagevermittlung) pursuant to the German Securities Institutions Act (Wertpapierinstitutsgesetz; “WpIG”). The Complaint Handling Procedure for clients and prospective clients of AQR in the European Economic Area can be found here: https://ucits.aqr.com/Legal-and-Regulatory.