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Alternative Market Briefing

Hedge fund Bridgewater gains on back of Swiss franc move

Wednesday, January 28, 2015

Komfie Manalo, Opalesque Asia:

The $160bn hedge fund firm Bridgewater Associates run by Ray Dalio posted a 4.5% gain this month through Jan. 16 in one of its hedge funds after benefiting from the Swiss National Bank's sudden decision to allow the franc to trade freely against the euro.

According to Bloomberg, Dalio’s Pure Alpha II registered the profits even as some hedge funds suffered losses and closures at a time of volatile currency fluctuations. The Bridgewater All Weather fund gained 1.5% during the same period.

Marko Dimitrijevic of Everest Capital said he would close his largest hedge fund, the Everest Global Fund, after losing virtually all its money because of SNB’s surprise announcement on Jan. 15.

Hedge fund winners

Bridgewater joins other winning hedge funds, including Man Group, Stanley Fink’s ISAM, Guard Capital, Leda Braga’s Systematica Investments and Lynx Asset Management, which posted in posting positive returns during the first few weeks of January.

Man Group's $4.4bn AHL Diversified fund gained 4.5% through Jan. 16, while the $4bn AHL Evolut......................

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