Whale Watch: Q2 2013
By Lawrence Delevingne, Rob Copeland
Tue Jul 23, 2013
Absolute Return's regular look at what the five largest American hedge fund firms did during the past quarter: Bridgewater, J.P. Morgan, Och-Ziff, Baupost, BlackRock.
1. Bridgewater Associates
Bridgewater further established its position as the largest
hedge fund firm in the world, swelling to $150 billion under
management and 1,400 personnel.
While many media reports noted flagship hedge fund's first
half loss (Pure Alpha II fell 1.22% through June), the macro
shop has rebounded in July. The fund is now up 2.3% net of fees
through July 15, according to a person familiar with the
returns. It's also up 5% in the past 12 months and has produced
a net annualized return of 13.6% since inception in 1991.
That's not to say the first half wasn't difficult. Pure
Alpha II fell 3.59% in June alone, the worst monthly
performance for the fund since December 2009 when it fell
6.17%, according to the
Absolute Return database.
Bridgewater trades dozens of markets at once and investment
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