Money Management Executive
Bear Stearns Adds A S&P STARS Fund
September 27, 2001, 1:00 a.m. EDT 1 Min Read
Bear Stearns Asset Management announced today the launch of the S&P STARS Opportunities Portfolio, a small- to mid-cap fund to compliment the firms 6-year old S&P STARS large cap fund.
Like it does with the large cap offering, Bear Stearns will use Standard & Poors STARS ranking system as the basis for the stock selection of the new fund, a unique strategy, according to Doni Fordyce, CEO of BSAM.
The new fund will invest primarily in companies with market capitalizations of $7 billion or less and will seek to outperform the S&P MidCap 400 Index, according to BSAM. The firm plans to launch the fund on Oct. 1.
The S&P STARS Fund has a year-to-date return of 26.77%, according to Morningstar, but has garnered $800 million in new assets since the beginning of the year through August 31, BSAM said.
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Money Management Executive