(Bloomberg) -- Bear Stearns Cos., manager of two
hedge funds that collapsed last month, halted redemptions from a
third fund after a slump in credit markets prompted investors to
demand their money back.
The Bear Stearns Asset-Backed Securities Fund had about $900
million invested in asset-backed securities, including mortgage
bonds, spokesman Russell Sherman said today in a telephone
interview. The fund was overwhelmed by redemption requests,
Sherman said.
Read more at Bloomberg Bonds News
hedge funds that collapsed last month, halted redemptions from a
third fund after a slump in credit markets prompted investors to
demand their money back.
The Bear Stearns Asset-Backed Securities Fund had about $900
million invested in asset-backed securities, including mortgage
bonds, spokesman Russell Sherman said today in a telephone
interview. The fund was overwhelmed by redemption requests,
Sherman said.
Read more at Bloomberg Bonds News
No comments:
Post a Comment