Bridgewater Associates sues two former employees for falsely exaggerating their role at the firm Gildas Le Treut

Ray Dalio's Bridgewater Associates sued two former employees for falsely advertising their new hedge fund firm by exaggerating and misrepresenting their role at the $160bn firm, reports Forbes. It sued Howard Wang and Wenquan "Robert" Wu in federal court in Manhattan, saying they tried to publicize their newly-formed hedge fund, Convoy Investments, by lying about their former roles at Bridgewater, claiming they tried to pass themselves off as "former key figures responsible for core aspects of Bridgewater's business," but "they were nothing of the sort."

Currency funds gain in September

Todd Edgar, whose Atreaus Capital LP specializes in currencies and commodities, and whose $650 million firm was backed with $150 million from Goldman Sachs Group Inc.'s asset management arm in 2012, rallied 8.6 percent for the month and 9 percent for the year, according to Bloomberg. He wasn't alone. Rising volatility, concern over the global economy and Bill Gross's abrupt exit from Pacific Investment Management Co. rattled the stock, bond, currency and commodity markets in which macro firms invest. The biggest funds, such as Paul Tudor Jones's Tudor Investment Corp. and Andrew Law's Caxton Associates LLC, rose between 3 percent and 4 percent in the month, thanks in large part to the jump in the dollar.

Guard Capital, a macro hedge fund firm launched by two former top traders at Goldman Sachs and Noble Group......................

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This article was published in Opalesque's New Managers a top-down monthly analysis, news and research publication on the global emerging manager space.