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AQR cuts 60/40 forecast again and warns of "unpalatable choices"

AQR Capital Management is taking the ax to return projections for markets around the globe -- yet again -- while touting fresh strategies from commodities to leverage to salvage investment performance.

The quantitative manager AQR Capital Management co-founded by Cliff Asness is back with its annual capital-markets outlook. | Photo: Mark Lennihan/AP/Ritzau Scanpix/AP

The quantitative manager co-founded by Cliff Asness is back with its annual capital-markets outlook, cutting expectations for asset gains in everything from U.S. equities, treasuries and credit to developed-market stocks and global 60/40 portfolios. 

All that means institutional investors need to smarten up with their risk-taking in the low-return era, according to the Greenwich, Connecticut-based asset manager. Recommendations include leveraging bonds and adding commodity exposure through derivatives, as well as allocating to hedge fund-like trades known as liquid alternatives.

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