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Bear Global Macro Hedge Fund Down 15%
April 14, 2008
One of the few hedge fund bright spots for Bear Stearns last year has turned sour in 2008.
The Emerging Markets Macro Fund was down 15.2% in the first quarter, the fund told investors, after an 11% decline in March. The fund blamed bad bets on global currencies for the decline.
The once $2.6 billion fund, managed by Melissa Ko, is down to just $1.2 billion. It returned 25.5% in 2007.
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