Summary List PlacementQuants had a tough 2020, but Cliff Asness' AQR has been struggling longer than that owing to a long drought for its value-focused strategies. But a person close to the firm said the money manager is turning things around this year. The Greenwich-based systematic manager, which runs a number of hedge funds and mutual funds, has lost more than a third of its assets — nearly 38% — since the end of 2017, according to a report prepared by consultant Callan for the Marin County Employees' Retirement Association.