AQR Capital Management has rolled out its ninth mutual fund. The new AQR Multi-Strategy Alternative Fund, which received an initial investment of $20 million from AQR, targets low correlation to traditional asset classes.

The no-load mutual fund aims to achieve positive absolute return through a diversified portfolio of alternative strategies that are traditionally made available via hedge funds. The product aims to provide exposure to nine different types of alternative strategies, including convertible arbitrage and fixed income relative value.

Click here for the release from PR Newswire.