A hedge fund manager has decided to add mutual funds to its product lineup. Pensions & Investments reports that AQR Capital Management, an Affiliated Managers Group company, just launched five mutual funds: Diversified Arbitrage, Emerging Markets, Global Equity, International Equity and International Small Cap.

The Diversified Arbitrage offering reportedly is the only completely new offering of the five; the others had been commingled funds, which AQR has now converted.

Founding Principal David Kabiller told P&I that AQR manages about $20 billion. 

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