Bridgewater’s Flagship Fund Lost 4.9% in First Half, FT Says

Bridgewater Associates’ flagship Pure Alpha fund lost 4.9% in the first half, one of its worst performances in two decades, the Financial Times reported.

The fund, which bets on macro-economic trends, was hurt as global stock and bond markets rebounded on the hopes of looser monetary policy, according to the report. The newspaper said much of the loss was in January, when Pure Alpha declined 4.5%, suggesting it went into the new year expecting the worst just as markets began to recover.