Bridgewater’s Flagship Hedge Fund Gains 32% for First Half of Year


(Bloomberg) — Bridgewater Associates posted a 32% return for its flagship hedge fund through the first half of 2022 as it benefited from increased market volatility, according to a person familiar with its performance.

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The firm founded by Ray Dalio told investors that its Pure Alpha II fund climbed 4.8% in June, boosting its annualized return since its 1991 inception to 11.4%, the person said, asking not to be identified because the results aren’t public.

Bridgewater’s macro fund is bouncing from years of struggle, eking out a nominal annualized gain over a decade before posting a return of about 8% in 2021. It had lost 12.6% in 2020, and several institutional clients pulled their money.

The firm, with about $150 billion of assets under management, recently overhauled its leadership team, creating an investment committee that includes co-Chief Investment Officers Greg Jensen and Bob Prince as well as several other senior investors.

(Updates with previous returns in third paragraph, leadership team in fourth.)

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