Asness's AQR Shows Lofty Profit Margin in First-Ever Disclosure
- Pretax margin is above that of many asset-management rivals
- Quant firm contributed more than 20% of AMG’s earnings in 2016
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AQR Capital Management, the firm co-founded by Cliff Asness, isn’t the biggest asset manager in the business. But it was more profitable last year than many of its larger rivals.
AQR’s financials, disclosed for the first time in a March 31 regulatory filing, show that the company earned a pretax profit of $531.1 million last year on revenue of $941.5 million. That’s a 56 percent margin.