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Tuesday, August 4 Business

Report: flagship Bridgewater fund trailed overall market in 2019

A year after beating the market handily with its flagship hedge fund, Bridgewater Associates saw a reversal of fortune in 2019 with the fund according to Institutional Investor, while registering a significant gain for another big investment vehicle in its portfolio.

Bridgewater is the world’s largest hedge fund, with its main office in Westport and additional locations in Stamford, Norwalk and New York City. Founder and Greenwich resident Ray Dalio is Connecticut’s wealthiest, with Dalio’s foundation committing $100 million last year to help the state of Connecticut improve its educational system.

Institutional Investor reported that Bridgewater’s flagship Pure Alpha fund was flat in 2019, with the S&P 500 index posting its best year since 2013 with a 31.5 percent gain including reinvestment of dividends. The trade publication reported Bridgewater’s massive All Weather fund generated a 16 percent return for investors, with Bridgewater declining comment.

Includes prior reporting by Kaitlyn Krasselt and Paul Schott.

Alex.Soule@scni.com; 203-842-2545; @casoulman

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