Alternative Market Briefing

Bridgewater Associates: largest U.S. hedge fund secures largest allocations

Friday, October 01, 2010

Opalesque Industry Update - Size does matter.

At least as far as the hedge fund industry is concerned. On Thursday, Absolute Return (AR) released the results of its study of hedge fund assets (as of July 1, 2010). The largest hedge fund, Bridgewater Associates manages $51bn in assets, and secured the largest inflows in the first half of 2010 compared with rivals.

Bridgewater, a 35-year-old firm founded by Ray Dalio maintained its rank as the largest U.S. hedge fund and the industry's most popular, AR magazine reported. The Westport, Connecticut-based firm piled up an additional $7.3bn in new money or an increase of 17% in its AuM, the biggest gain in 2010.

Reuters added that firms managing $5bn in assets or more saw their capital jump by at least one percent during the first half. But at least 50% of firms managing only $1bn or more saw their assets decline or stayed unchanged during the same period.

Another large hedge funds that reported inflows was JP Morgan's asset management unit. The second-largest U.S.-based hedge fund saw its assets increase to $41bn, or an increase of $2.7bn.

Completing the first-half asset winners were George Soros' Soros Fund Management; Och-Ziff Capital Management Group; BlackRock; Angelo, Gordon & Co; Seth Klarman's Baupost Group, and Thomas Steyer's Farallon Capital Management. ......................

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