Bear E.M., Europe Funds Enjoy Double-Digit 2007

Jan 9 2008 | 8:44am ET

In the annals of Bear Stearns’ long and storied history, 2007 will not be a high point.

It posted its first-ever quarterly loss, suffered enormous losses thanks to the credit crisis and took a reputational punch to the gut with the embarrassing collapse of two hedge funds linked to the subprime slide.

But not all of its hedge funds will look back at last year with a grimace, or from the grave. At least two of its more than dozen hedge funds posted respectable, if not spectacular, returns. Its $1.7 billion Emerging Markets Macro Fund returned 25.56% last year, after a 2.95% December surge, according to a letter sent to investors Tuesday, Reuters reports. Of course, emerging markets funds were among the best-performing of all hedge funds last year.

Bear’s $200 million Europe Long/Short Fund added 1.05% last month, bringing its full-year return to 18.29%.

However, the December numbers are preliminary, the letter warned.


In Depth

The Benefits Of Private Debt Investing

May 7 2015 | 10:43am ET

Jeffrey Haas is chief operating officer of Old Hill Partners Inc., an SEC-registered...

Lifestyle

Yale Receives $150 Million Gift from Blackstone’s Schwarzman

May 12 2015 | 12:10am ET

Yale University announced it has received a $150 million gift from Blackstone Group...

Guest Contributor

How To Generate 6% Yield In A Volatile World

May 22 2015 | 6:41am ET

Private credit comes in many different flavors, all with the common themes of over...

 

Editor's Note