Bridgewater Associates’ flagship Pure Alpha macro fund posted a gain of 8.1% in the first half of the year, people familiar with the matter said on Wednesday. The fund’s gain comes amid a volatile market backdrop, with the S&P 500 and the Nasdaq Composite jumping 9.67% and 12.48%, respectively, nearing record highs.
Strategic Overhaul
Bridgewater, which currently manages about $102 billion of assets, has in recent years bet on new strategies, including a fund that uses artificial intelligence to make investment decisions. The artificial intelligence fund, or the AIA Macro fund, delivered an 8.1% gain during the same period, one of the sources said.
The firm’s other top executives include co-CIOs Karen Karniol-Tambour, Greg Jensen, and Bob Prince. In January, Bridgewater promoted macro trader Ben Melkman to deputy chief investment officer, alongside David Trinh and Blake Cecil.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
