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Alternative Market Briefing Weekly

Opalesque Roundup: Insider says Bridgewater's success a result of unique and intense culture: hedge fund news, week 05

Sunday, February 03, 2019

In the week ending February 1st 2019, Ray Dalio's Bridgewater fund topped all other hedge funds in 2018 in terms of total net gains, according to data provided by LCH Investments.

Bridgewater - which is the world's largest hedge fund firm with $150bn in assets under management - led the annual ranking list with a net $8.1bn gain in 2018, following a gain of $300m in 2017. The firm has delivered a gain of $57.8bn since its founding, according to LCH. Eileen Murray, Bridgewater Associates' co-chief executive officer believes the firm has been so successful, year after year, because of its unique and intense culture.

When it comes to the top three all-time greats, the rankings didn't change in 2018. George Soros's Soros Fund Management remains No. 2 (based on figures through the end of 2017), followed by Ken Griffin's Citadel.

The top 20 managers, which oversee 18% of all assets invested in such vehicles, generated $23.2bn in gains last year, after fees, while all other hedge funds lost a cumulative $64.2bn, LCH found.

In performance news, according to Preqin, the global hedge fund industry registered the worst performance in ten years in 2018 with 59% of funds posting negative returns as turbulent markets exacted a toll and the Mizuho-Eurekahedge Index (USD), an asset-weighted index representing the global hedge fund industry performance was down 0.39% in December, bringing its year-to-date loss to 4.09% amidst the global equity market sell-off.

Meanwhile, South African hedge funds that run offshore US dollar denominated funds have outperformed the S&P 500 and Buffett's Berkshire Hathaway shares;......................

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