J.P. Morgan has been selected by investment management firm AQR Capital Management, LLC (AQR), adviser to the AQR Funds, to provide prime custody and fund administration to its newly launched mutual fundthe AQR Multi-Strategy Alternative Fund.
Last year, J.P. Morgan won a mandate to provide prime custody services to ADR’s mutual funds, with around $2 billion in assets.
We are pleased to be launching this fund which leverages J.P. Morgans integrated offering, says David Kabiller, founding principal of AQR Capital Management, LLC, the investment adviser to AQR Funds. This is a complex fund spanning multiple asset classes including equities, bonds, currencies, commodities, credit derivatives, convertible securities, futures, forwards, options and swaps. Our decision to partner with J.P. Morgan reflects our confidence in their ability to support us across this multifaceted and diverse set of assets and strategies.
Devon George-Eghdami, managing director and head of Prime Custody Solutions, adds: We are delighted to expand this relationship with AQR. The fund requires integrated functionality across equity prime brokerage, futures and options, custody and fund administration to support its complex, alternative strategy which J.P. Morgan is uniquely positioned to provide.
(CM)