ESG & Investing
AQR Gets $350 Million for Fund Pitching Long-Short ESG Bets
- Aghassi says fund offers buffers for sustainable investors
- ESG skeptics point to the sector’s recent underperformance
The fund is designed to short stocks that AQR judges have poor environmental, social and governance profiles and invest in higher-scoring ESG stocks.
Photographer: Angel Garcia/BloombergThis article is for subscribers only.
A fund launched by AQR Capital Management LLC is about to give investors a taste of how well ESG can be combined with the goal of generating market-beating returns.
The quant firm co-founded by hedge fund veteran Cliff Asness has now attracted about $350 million for its Adaptive Equity Market Neutral UCITS Fund, according to data compiled by Bloomberg. The fund, whose launch was announced last month, is designed to short stocks that AQR judges have poor environmental, social and governance profiles and invest in higher-scoring ESG stocks.