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FT: Bridgewater's Flagship Fund Lost 4.9% in First Half

FT: Bridgewater's Flagship Fund Lost 4.9% in First Half
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Sunday, 21 July 2019 11:37 PM

Bridgewater Associates’ flagship Pure Alpha fund lost 4.9% in the first half, one of its worst performances in two decades, the Financial Times reported.

The fund, which bets on macro-economic trends, was hurt as global stock and bond markets rebounded on the hopes of looser monetary policy, according to the report. The newspaper said much of the loss was in January, when Pure Alpha declined 4.5%, suggesting it went into the new year expecting the worst just as markets began to recover.

The FT cited a person close to Bridgewater saying the fund had pared some of its losses and is now down 1.45% this year through mid-July.

The FTSE All-World equity index was up 15% through the end of June, while the broadest global bond market gauge was up 6%. The average macro hedge fund gained 5.2% in the period, the report said, citing data provider HFR.

The decline came after a strong 2018 for Pure Alpha, when it gained 14.6%. Bridgewater, the firm founded by billionaire Ray Dalio, has about $160 billion in assets.

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Bridgewater Associates' flagship Pure Alpha fund lost 4.9% in the first half, one of its worst performances in two decades, the Financial Times reported.
TOP, WWTOP, WWTOPAM
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2019-37-21
Sunday, 21 July 2019 11:37 PM
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