AQR Apex UCITS Fund

The AQR Apex UCITS Fund was launched through the conversion of the AQR Systematic Total Return UCITS Fund, effective from 25 April 2024. The fund targets an annualised volatility of between 6% and 10%, and a net return of 6% to 8% above cash. Drawing on 25 years of investment research and experience, Apex incorporates AQR’s full suite of capabilities, including market-neutral stock selection, global macro strategies, and arbitrage, within one trading vehicle. The fund tactically adjusts risk both within and across these strategies to adapt to the market environment and the changing opportunity set. The strategy utilises a data-driven, systematic investment process, applying fundamental economic insights and the latest research on economic trends, alternative markets, dynamic factor exposures, and machine learning. It seeks diversification through a wide range of lowly correlated sub-strategies, investing across thousands of securities, including macro derivatives and single name securities. Apex’s investment approach includes directional macro strategies, where it takes tactical long or short positions based on price and fundamental trends, and relative value macro strategies, which exploit market underreactions and aim for convergence in deeply dislocated markets. Additionally, the stock selection component takes market-neutral bets within and across industries and economically linked groups, while the arbitrage sleeves provide diversified arbitrage exposures to harvest liquidity premia associated with supply and demand imbalances.