Key facts
- Bridgewater's Pure Alpha macro fund gained 18.4% in the first nine months of 2024.
- The AIA Macro fund, focused on artificial intelligence, gained 16.4% in the same period.
- The AIA Macro fund has an annualized return of 13.2% since its launch in late 2023.
- The AIA Macro fund manages over $4.5 billion.
- The S&P 500 and Nasdaq Composite rose 11.5% and 15.4% respectively in the first nine months.
- Many hedge funds saw gains unwind in July due to technology-related trades.
Bridgewater Associates' flagship Pure Alpha macro fund achieved an 18.4% gain in the first nine months of the year, navigating a volatile market and a selloff in artificial intelligence stocks in July, according to people familiar with the matter. Many global hedge funds experienced a reversal of gains in July due to the unwinding of technology-related trades, but the industry has since recovered.
The firm's artificial intelligence-focused fund, the AIA Macro fund, delivered a 16.4% gain during the same nine-month period. Since its launch in late 2023, the AIA fund has posted an annualized return of 13.2% and currently manages over $4.5 billion in assets.
In comparison, the S&P 500 and the Nasdaq Composite jumped 11.5% and 15.4%, respectively, in the first nine months of the year.