Ray Dalio’s Bridgewater Posts Positive Returns in Two of Its Largest FundsAs rivals struggled to navigate global markets, Ray Dalio’s $160 billion hedge fund firm Bridgewater Associates LP is reportedly announced that it has posted positive returns in two of its largest funds last month.
The Bridgewater Pure Alpha Fund returned 1.9 percent in August and 5 percent in the year’s first eight months, according to a person with knowledge of the matter, who asked not to be identified because the information is private. Pure Alpha II rose 2.8 percent last month and 7.6 percent in 2014.
Dalio, a 65-year-old billionaire whose Westport, Connecticut-based firm is the industry’s largest, has outperformed peers at a time when many macro fund managers are barely breaking even or losing money. Macro funds, which trade a range of assets to try to profit from macroeconomic trends, dropped 0.6 percent in August, paring gains to 1 percent for the year, according to data compiled by Bloomberg.
“The very core” of Bridgewater’s strategy is leveraging fixed income, said Mark Yusko, founder of Morgan Creek Capital Management LLC, which invests in hedge funds. “In a year like this where interest rates fall they’re going to have a great year.”Source: Businessweek