Investment innovation at the intersection of technology, data and behavioral finance.
It's in our DNA.

Explore Our Firm

Investment innovation at the intersection of technology, data and behavioral finance.
It's in our DNA.

Explore Our Firm
Tax Matters

The Enduring Appeal of Gain Deferral, Part 4

March 19, 2025

Our first post in this series showed the power of deferral for building wealth; our second showed how robust the value of deferral is to changes in future tax rates on capital gains; our third considers whether deferral is still the right choice if an investor is able to find a strategy with a higher expected return. Here, we build on Part 3 by adding a tool investors and advisors increasingly have access to: tax-aware transition.

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Tax Matters

The Enduring Appeal of Gain Deferral, Part 3

March 12, 2025

Our first post in this series showed the power of deferral for building wealth, and our second showed how robust the value of deferral is to changes in future tax rates on capital gains. But what if you’re able to find a new investment with a higher expected return?

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White Paper

Portable Alpha: Why Now?

February 20, 2025 - Peter Hecht Jeffrey Cao

As stock market valuations continue to rise and expected returns correspondingly fall, many investors are hoping to rely more on alpha from active management to make up for a potential future return gap. Unfortunately, long-only active management has struggled during recent history. We review why portable alpha may be an attractive alternative solution in today’s market environment. We also discuss what aspects of a portable alpha solution are important for investors to consider when selecting between implementations.

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Cliff's Perspectives

Should Hedge Funds Hedge?: Why Some Alts Should Have a Beta of 1.0

March 28, 2025 - Cliff Asness

While uncorrelated alternatives can be beneficial, they often fail to significantly impact the overall portfolio. Here, I argue that adding beta to these alternatives can enhance capital efficiency and improve long-term returns. Ultimately, there is a need for a balanced approach to investing in alternatives, including a combination of aggressive and equitized strategies.

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More Cliff's Perspectives

Strategies

We offer a broad range of diversified strategies based on a unified set of underlying principles.

AQR is at the nexus of economics, behavioral finance, data, and technology. Our evolution has been a continuous exploration of what drives markets and how it can be applied to client portfolios.

Alternatives Equities ESG Tax Aware

Investors should conduct their own analysis and consult with professional advisors prior to making any investment decisions. Diversification does not eliminate the risk of experiencing investment loss. Past performance is not a guarantee of future results. Investment process is subject to change.