LONDON (Reuters) - Billionaire investor Cliff Asness's AQR Capital Management finished the first quarter with positive returns in several of its funds, said a source familiar with the matter on Tuesday.

The $128 billion hedge fund returned a positive 3.4% performance in March its multi-strategy fund, Apex Strategy, finishing with a 9% first quarter return.

The fund posted a 9.7% return for the quarter in its AQR Delphi Long-Short Equity Strategy, with a positive 2.3% for March. AQR's Managed Futures Full Strategy posted an 8.2% return for the quarter with a 2.5% return for March.

The hedge fund's Helix Strategy which uses trend following in a diverse set of harder to access markets had a positive 3% performance for the quarter and a 4.4% in March.