Bear Stearns Asset Managements emerging markets macro fund suffered double-digit losses in March amid high volatility in both equity and credit markets, which made it a tough month for funds across the board.
Rather ironically, the near collapse and rescue of parent company Bear Stearns was a major cause of market volatility. Melissa Kos emerging markets macro fund dropped an estimated 10.9% last month, taking its year-to-date loss to 15.2%. By comparison, early estimates show that all strategies struggled last month, with the Absolute Return Composite Index off 0.83% for March and down 0.78% for the year.
Other funds on