Bridgewater's flagship macro fund posts robust double-digit gains this year, sources say

By Reuters News

By Anirban Sen

NEW YORK, Oct 1 (Reuters) - Bridgewater Associates' flagship Pure Alpha macro fund climbed 18.4% in the first nine months of the year, people familiar with the matter told Reuters, after braving a volatile market backdrop during the quarter and a big selloff in artificial intelligence stocks in July.

Many global hedge funds gave up big gains during July due to the unwinding of technology-related trades. Since then, however, the industry has bounced back. In the first nine months of the year, the S&P 500 .SPX and the Nasdaq Composite .IXIC jumped 11.5% and 15.4%, respectively.

Bridgewater's artificial intelligence-focused fund, or the AIA Macro fund, delivered a 16.4% gain during the same period, one of the sources said. Since its launch in late 2023, the AIA fund has posted an annualized return of 13.2% and currently manages over $4.5 billion.

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