Street.Com – In a fact sheet about the fund, which engages in several arbitrage strategies, AQR outlined plans to take advantage of a lack of liquidity in the "thinly traded" SPAC market.

A spokesman for AQR says the firm is not concerned that it missed the height of the market last fall, since it expects attractive risk-adjusted returns for some trades.

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Tags: aqr, arbitrage strategies, fact sheet, liquidity, risk adjusted returns, spokesman, trades

CNNMoney.com – In what looks like a sign of the hard times in the hedge fund world, AQR Capital Management – one of the industry’s biggest names – is opening its doors to the retail market.

In January, the investment management firm launched its Diversified Arbitrage Fund, its first mutual fund. Its Class I shares are up just 0.15% through the end of February, but that doesn’t look so bad compared with the S&P 500, which dropped 12.5% during the same period.

AQR says it wants to give average investors access to strategies that were once only available to hedge fund clients. While the fund may not be designed as a main holding, David Kabiller, co-founder of AQR with Cliff Asness, John Liew and Robert Krail says it can help individual investors balance out their portfolios.

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Tags: amp, aqr, arbitrage fund, capital-management, cliff-asness, co founder, doors, individual investors, investment management firm, krail, mutual-fund, portfolios, retail market