Bridgewater’s Main Hedge Fund Loses About 20% in Quarter
- Pandemic hit at ‘worst possible moment,’ founder Dalio said
- Brevan Howard bucked market sell-off with 23% gain in 2020
Ray Dalio
Photographer: Giulia Marchi/BloombergThis article is for subscribers only.
Ray Dalio’s flagship hedge fund at Bridgewater Associates ended the first quarter down about 20%, according to people with knowledge of the matter.
Bridgewater extended this year’s decline after getting caught on the wrong side of the market sell-off that began in late February as a result of the rapidly spreading coronavirus. The firm’s Pure Alpha II strategy fell about 16% in March after posting smaller losses in the first two months of the year, said the people, who asked not to be identified because the information isn’t public.