AQR Lines Up First ’40 Act Long-Short Net Zero Carbon Fund

U.S. asset manager AQR is planning to launch a fund that will take long and short positions in U.S. and foreign companies to achieve a net zero carbon footprint. The fund will use AQR’s proprietary quantitative analysis of environmental, social and governance criteria, according to a prospectus filed with the U.S. Securities Exchange Commission earlier this month. The fund would appear to be the first 1940 Investment Company Act fund to take a long/short approach to ESG.