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The AQR Wholesale Delta fund has won a $21 million mandate with Tasmanian-based industry super fund Tasplan.
This takes the Australian fund’s assets under management to approximately $50 million since its launch in September last year.
The fund, which offers investors access to a diversified portfolio of core hedge fund strategies, has received strong support from institutional consultants and research houses.
AQR principal Gregor Andrade said the fund was launched to provide Australian investors with risk-controlled and cost-effective exposure to a range of classic hedge fund strategies.
“Despite, or perhaps because of, the challenging market backdrop of the past 18 months, Delta’s design has resonated with investors who seek a stable return stream, unrelated to the direction of traditional markets … which are based on sound economic principles,” he said.
AQR Capital Management, the Connecticut-based parent company of AQR Australia, manages over $500 million in the Delta strategy.
