Looking for a bear fund

The All Points Index U.S. Bear Fund is run by Bermuda International Investment Management and has the longest track record. It has been doing very well recently, with a one-year gain of 18.7% to June 30. However, this isn’t a buy-and-hold fund; the five-year average annual compound rate of return is barely above break-even at 0.4%. You’ll need $97,000 to take a position.

The Leeward Bull and Bear Fund is only a year old. It’s run by Leeward Capital Management and has a 12-month return of 32.5%. This one has a $150,000 minimum investment requirement. – G.P.