Hedge fund stalwart AQR Capital Management has added three "core equity" mutual funds to its growing mutual fund portfolio.
The new funds include AQR Core Equity Fund (QCELX), which will bet on large- and mid-cap U.S. companies, AQR Small Cap Core Equity Fund (QSMLX) and the AQR International Core Equity Fund (QICLX), which bets on large market-capitalization companies in major developed regions outside the U.S.
"While each of these styles has performed well on its own, their performance has a low correlation to one another and to the broad market,” stated David Kabiller, Head of Client Strategies at AQR. “By combining them in one portfolio, we may be able to give investors more consistent returns in excess of our benchmarks."
AQR launched its first mutual fund on January 9, 2009 and has grown its mutual fund business to some $9.2 billion as of December 31, 2012.