Quantitative fund manager AJO to wind down business after losses: FT

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Ted Aronson, the founder of the group which manages $10 billion in funds, told investors that AJO would stop trading on Nov. 30 before winding down its business on Dec. 31, the newspaper said, citing an investor letter.

The resolution to close was driven by “market forces,” Anderson wrote, adding “the drought in value – the longest on record – is at the heart of our challenge,” the newspaper said.

AJO Partners did not immediately respond to a request for comment.