AQR Takes a Leap Into Mutual Funds.

The article reports on the launch of a mutual fund by hedge-fund firm AQR Capital Management LLC in January 2009. It says that the AQR Diversified Arbitrage fund will engage in different types of arbitrage strategies, including betting on mergers and convertible arbitrage, and can borrow up to a third of its assets to achieve its goals. The fund is expected to produce a return of 2 to 5 percentage points more than a three-month Treasury index.