Bear Stearns 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.  

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