plans to be the latest fund company to give a hedge-like mutual fund the old college try. In today's WSJ Fund Track
, Daisy Maxey reports that the firm is planning to start a 130/30 fund next year. The new fund will fall on the more expensive range of 130/30 strategies carrying a 317 bps expense ratio for class I shares and a 342 bps expense for its A shares. Last summer's meltdown in Bear's real hedge funds may put a damper on this new strategy though, Burton Greenwald, a consultant to mutual-fund and asset-management companies in Philadelphia, tells Maxey. "I would think right now that Bear Stearns would have a credibility issue with any new product they bring to market, particularly any that involves sophisticated investment techniques," he said.
Stay ahead of the news ... Sign up for our email alerts now