AQR Capital Management (Applied Quantitative Research) is a global investment management firm based in Greenwich, Connecticut, United States. The firm, which was founded in 1998 by Cliff Asness, David Kabiller, John Liew and Robert Krail, offers a variety of quantitatively driven alternative and traditional investment vehicles to both institutional clients and financial advisors. The firm is primarily owned by its founders and principals. AQR has additional offices in Boston, Chicago, Los Angeles, Bangalore, Hong Kong, London, Sydney, and Tokyo.
AQR employs a research-based “systematic and consistent approach” to portfolio construction. This disciplined approach of identifying long-term, repeatable sources of return means “having a high conviction in the process, but not a high conviction in any particular stock.” The firm is a strong proponent of diversification within portfolios, as well as adding strategies with low correlation to traditional asset classes as a complement to existing portfolios.
Global multi-strategy hedge fund
Greenwich, CT, US
Renaissance Technologies LLC is an American hedge fund firm based in East Setauket, New York, on Long Island, which specializes in systematic trading using quantitative models derived from mathematical and statistical analyses. The company was founded in 1982 by James Simons, an award-winning mathematician and former Cold War code breaker.
In 1988, the firm established its most profitable portfolio, the Medallion Fund, which used an improved and expanded form of Leonard Baum's mathematical models, improved by algebraist James Ax, to explore correlations from which they could profit. Simons and Ax started a hedge fund and named it Medallion in honor of the math awards that they had won
WINTON CAPITAL MANAGEMENT
Winton Group, Ltd (which includes Winton Capital Management) is a British investment management firm founded by David Harding. In the United States, Winton is registered with the Securities and Exchange Commission as an investment advisor and with the Commodity Futures Trading Commission as a CTA, and is authorised by the Financial Conduct Authority in the UK. The company trades on more than 100 global futures markets in a wide variety of asset classes and on global equity markets. The firm was launched with $1.6 million in 1997 and as of December 2017 it held $28.5 billion in assets under advisement. Winton Group has eight offices around the world: London, New York, Hong Kong, Tokyo, Shanghai, Sydney, San Francisco, and Zurich.
In 1996, physicist and investment manager David Harding left Man AHL (formerly Adam, Harding and Lueck), a systematic managed futures fund and created Winton.Using Harding's middle name, the firm began trading in October 1997. Winton employs statisticians, engineers and physicists, to pursue investment strategies based on scientific research and analysis.According to Harding, Winton had difficulty attracting clients as a commodity trading advisor (CTA), because investors preferred hedge fund strategies that focused on the equity market rather than futures contracts.However, using fees that were different from industry standards, the firm was able to secure investors.
Systematic trading, futures Commodities Trading Advisor (CTA)
TWO SIGMA INVESTMENTS
Two Sigma Investments LP is a New York City-based international hedge fund that uses a variety of technological methods, including artificial intelligence, machine learning, and distributed computing, for its trading strategies. The firm is run by John Overdeck and David Siegel.
Two Sigma Investments was founded in 2001 by John Overdeck, David Siegel and Mark Pickard. Siegel is a computer science Ph.D. from the Massachusetts Institute of Technology and held the position of Chief Information Officer for D. E. Shaw & Co. prior to starting Two Sigma. Overdeck is an International Mathematical Olympiad Silver Medalist who subsequently studied mathematics at Stanford University and then rose to the position of Managing Director at D. E. Shaw prior to leaving to co-found Two Sigma. Pickard served as the President of the firm from its inception until his retirement in 2006.
According to Two Sigma, the firm's name was chosen to reflect the duality of the word sigma. A lower case sigma, σ, designates the volatility of an investment's return over a given benchmark, and an upper case sigma, Σ, denotes sum. By adding together the volatilities of individual positions measured against the benchmark, Two Sigma can amplify forecast signals, the company's website say
Systematic, multi-asset quantitative trading
New York, NY, US
THE D.E. SHAW GROUP
D. E. Shaw & Co., L.P. is a multinational investment management firm founded in 1988 by David E. Shaw and based in New York City. The firm has offices in New York, Boston, Hong Kong, Hyderabad, Shanghai, London, Luxembourg and Bermuda. D. E
The company manages a variety of investment funds that make extensive use of quantitative methods and proprietary computational technology to support fundamental research in the management of its investments. The company also uses qualitative analysis to make private equity investments in technology, wind power, real estate, and financial services firms and in distressed company financing .
Quantitative strategies based on financial and alternative data
New York, NY, US
Man Group plc is an active management business initially founded as a sugar cooperage and brokerage by James Man in 1783. It provides a range of funds for institutional and private investors globally and is the world's largest publicly traded hedge fund company, reporting $103.5 billion in funds under management as of September 2017. The firm is headquartered at Riverbank House in London and employs over 1,000 people in various locations worldwide.
In late 2017, the group announced the creation of a quantitative hedge fund in China. The firm has held licences to operate in the country since 2012, but has more recently been provided clearance to operate as a private securities investment fund manager: Man is one of the first global firms to receive this accreditation. The fund will be managed by Man's AHL division.
Publically traded multi-asset hedge fund