Bear Stearns takes time to add up losses - report

LONDON (CNNMoney.com) -- Bear Stearns may take until July 16 to let investors in two of its troubled hedge funds know how much money they've lost, according to a report in the Wall Street Journal.

Calculating the value of the funds has been difficult because many of the securities the funds hold aren't heavily traded and the market has been volatile, the newspaper said.

"In light of the Funds' circumstances, this process is more time-consuming than in prior periods," the asset management arm of Bear Stearns (Charts, Fortune 500) told investors in a letter, according to the Journal.