AQR Capital Management and Bank of America Merrill Lynch Launch the AQR Global Relative Value UCITS Fund

LONDON – AQR Capital Management (AQR) and Bank of America Merrill Lynch today announce the launch of the AQR Global Relative Value UCITS Fund (Fund), offering access to AQR Capital Management’s successful Global Relative Value investment style as part of Bank of America Merrill Lynch’s UCITS III compliant funds platform.

 

The Fund, employing a team-managed investment process led by Principal Ronen Israel, pursues a diversified investment approach across Arbitrage, Equity and Macro Strategies.

 

The AQR Global Relative Value UCITS Fund was launched on 26 January 2011 and is the 10th fund to be established on the UCITS compliant Luxembourg SICAV - Merrill Lynch Investment Solutions (MLIS) - and the first Global Relative Value Strategy therein.

 

AQR has been appointed as the investment manager to the Fund with Merrill Lynch International acting as sponsor.

 

Eric Personne, head of EMEA Fund Solutions at Bank of America Merrill Lynch said, “We are delighted to partner with managers of AQR’s quality on our UCITS platform and look forward to working closely with Ronen and the other senior members of the Fund’s investment committee including AQR Managing and Founding Principal Cliff Asness. Investors should have access to a diverse set of strategies and by adding funds of this type to the MLIS platform we are further able to offer a comprehensive solution to their investing needs.”

 

According to David Kabiller, AQR Founding Principal and head of Client Strategies, “AQR is proud to offer the UCITS compliant Fund which takes advantage of AQR’s nearly 15 years of experience managing funds with a liquid and transparent approach.”

 

The AQR Global Relative Value UCITS Fund is the latest fund to be launched out of the Bank of America Merrill Lynch’s UCITS platform. Other recent launches include:

• Graham Capital Systematic Macro UCITS Fund. Launch date, 1 December 2010: A diversified, multi-timeframe, multi-strategy, CTA fund.

• York Asian Event-Driven UCITS Fund. Launch date, 3 November 2010: An Asian-focused, equity orientated, event-driven fund.

• Zweig-DiMenna US Long-Short Equity UCITS Fund. Launch date, 29 October 2010: A diversified, fundamental, value catalyst, US equity long-short fund.

 

The AQR Global Relative Value UCITS Fund, Graham Capital Systematic Macro UCITS Fund, York Asian Event-Driven UCITS Fund and Zweig-DiMenna US Long- Short Equity UCITS Fund are regulated, Luxembourg onshore vehicles, with protection for investors through the UCITS framework of rigorous risk, diversification, counterparty exposure, liquidity and eligible asset constraints. Processes relating to the running of the Funds, including matters such as risk management, independent oversight and protection of assets, have been approved by the Luxembourg regulator.

 

The Merrill Lynch Investment Solutions (‘MLIS’) funds are available for sale to institutional and retail investors in UK, Ireland, Germany, Austria, Spain and the Netherlands with a minimum investment size for the retail share classes as low as US$1,000. Passporting to additional jurisdictions is currently in progress. The MLIS funds are not for sale to US persons.

Merrill Lynch Investment Solutions was recently recognised as the best UCITS platform at the prestigious European Fund of Hedge Funds Award 2010.

 

 

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Reporters May Contact

Andrew Todd, Bank of America Merrill Lynch, 44.20.7995.4265

andrew.todd@baml.com