A Painful 2018 So Far for Prominent Long-Short and Market-Neutral Funds
Some of our Morningstar Medalist alternative funds have struggled so far this year, but we remain confident in their long-term prospects.
Fund Spy
Mentioned: Boston Partners Long/Short Equity Instl (BPLSX)
, Boston Partners Long/Short Rsrch Instl (BPIRX)
, AQR Multi-Strategy Alternative I (F00000MEMW)
, Boston Partners Global Long/Short Instl (BGLSX)
, AQR Long-Short Equity I (QLEIX)
, AQR Style Premia Alternative I (QSPIX)
, AQR Equity Market Neutral I (QMNIX)
, AQR Alternative Risk Premia I (QRPIX)
It has been a tough year for market-neutral and long-short equity funds (including some large hedge funds). As the equity market entered a more volatile period with rising interest rates and tightening monetary policy, many investors shifted their attention to alternative investments, but many prominent and fast-growing alternative products offered by AQR and Boston Partners have struggled in 2018. While the year-to-date performances have been disappointing, these Morningstar Medalists stay the course and stick to their knitting.
Exhibit 1 shows some selected funds’ year-to-date returns through June 2018.
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Tayfun Icten does not own (actual or beneficial) shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.