J.P. Morgan Selected by AQR Capital Management to Provide Prime Custody Services and Fund Administration for Its New Mutual Fund Launch - AQR Multi-Strategy Alternative Fund

New York , July 21, 2011– J.P. Morgan announced today that it has been selected by investment management firm AQR Capital Management, LLC (AQR), adviser to the AQR Funds, to provide prime custody and fund administration to its newly launched mutual fund – the AQR Multi-Strategy Alternative Fund.  As described by AQR, the Fund seeks exposure to the following sub-strategies: Convertible Arbitrage, Event Driven (including Merger Arbitrage), Fixed Income Relative Value, Equity Market Neutral, Long/Short Equity, Dedicated Short Bias, Global Macro, Managed Futures and Emerging Markets.

AQR, which was founded in 1998, is based in Greenwich, Connecticut and indicates as of June 30, 2011 that it manages approximately $40 billion in both long-only and hedge fund assets for some of the largest institutional investors in the US, Europe, Australia and Asia.  According to AQR, the Fund was created to provide mutual fund investors with access to several alternative and innovative investment strategies.

“We are pleased to be launching this fund which leverages J.P. Morgan’s integrated offering.  This is a complex fund spanning multiple asset classes including equities, bonds, currencies, commodities, credit derivatives, convertible securities, futures, forwards, options and swaps.  Our decision to partner with J.P. Morgan reflects our confidence in their ability to support us across this multi-faceted and diverse set of assets and strategies” said David Kabiller, Founding Principal of AQR Capital Management, LLC, the investment adviser to AQR Funds.

J.P. Morgan's Prime Custody Solutions platform combines prime brokerage, global custody and other securities services through a single technology portal and integrated client service model.  The group leverages two of the market-leading J.P. Morgan franchises: J.P. Morgan Worldwide Securities Services, a premier securities servicing and fund administration provider with approximately $16.9 trillion in assets under custody and J.P. Morgan Prime Brokerage, a market-leading global prime brokerage. Prime Custody Solutions provides tools to help mutual funds comply with the ’40 Act and SEC requirements regarding bank custody and shorting and/or leveraging alternatives strategies provided by a broker dealer.  J.P. Morgan’s offering includes automated collateral management, consolidated transaction and reporting technology utilizing a single portal and integrated customer service across all products.

Devon George-Eghdami, Managing Director and Head of Prime Custody Solutions, said, “We are delighted to expand this relationship with AQR.  The Fund requires integrated functionality across equity prime brokerage, futures and options, custody and fund administration to support its complex, alternative strategy which J.P. Morgan is uniquely positioned to provide.”

About AQR Capital Management, LLC
AQR Capital Management, LLC describes itself as is an investment management firm employing a disciplined multi-asset, global research process (AQR stands for Applied Quantitative Research). AQR’s investment products are provided through a limited set of collective investment vehicles and separate accounts that deploy all or a subset of AQR's investment strategies. These investment products span from aggressive high volatility market-neutral hedge funds, to low volatility benchmark-driven traditional products, including registered open-end funds.

About J.P. Morgan’s Prime Custody Solutions Group
J.P. Morgan offers unique and comprehensive solutions that enable funds to combine their prime services, global custody and other securities service needs in an integrated approach.  Custody services and interest rate derivatives are offered through JPMorgan Chase Bank, N.A., member FDIC; equity and FX prime brokerage services are offered through J.P. Morgan Clearing Corp., member SIPC, FINRA, and NYSE; securities products are offered through J.P. Morgan Securities LLC, member SIPC, FINRA, and NYSE.

About J.P. Morgan Worldwide Securities Services
J.P. Morgan Worldwide Securities Services (WSS) is a premier securities servicing and fund administration provider that helps institutional investors, alternative asset managers, broker dealers and equity issuers optimize efficiency, mitigate risk and enhance revenue. A business of JP Morgan Chase & Co., WSS leverages the firm’s global scale, leading technology and deep industry expertise to service investments around the world.  It has $16.9 trillion in assets under custody and $7.5 trillion in funds under administration.

About JPMorgan Chase & Co.
As used in this release, “J.P. Morgan” refers to the combined resources of JPMorgan Chase & Co and its affiliates.  JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.2 trillion and operations in more than 60 countries. The firm is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management, and private equity. A component of the Dow Jones Industrial Average, JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan and Chase brands. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

None of the foregoing is intended to be, nor should it be considered a solicitation to purchase or an offer to sell any fund.  Descriptions of investment products or strategies offered by AQR used in this release have been provided by AQR and have not been independently validated by J.P. Morgan. Statements of AQR regarding their opinion of services provided by J.P. Morgan reflect AQR’s opinion and might not be representative of the experience of other clients.