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.

Ray Dalio
(Photo: Bloomberg)
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 losses for...


The full contents of this article are available to Absolute Return subscribers and trialists only.

To continue reading please, take a free trial, subscribe or log in.


Subscribers have unlimited access to all current and archive content. Start your subscription today - click on the button below.

Subscribe now