AQR Annual Profit Plunges 34% in Rough Environment for Quants
- Fee revenue fell last year at Asness’s firm while costs rose
- Stakeholder AMG discloses firm’s results in regulatory filing
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Redemptions, rising costs and a rough environment for quant funds have taken a toll on the profits of AQR Capital Management Holdings LLC.
The Greenwich, Connecticut-based money management firm’s pretax income fell to $533.6 million last year, a 34 percent drop from 2017, according to a regulatory filing.