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Bridgewater's pure alpha fund returned 14.6 percent last year

Bridgewater Associates’ flagship hedge fund rose 14.6 percent last year as stocks fell broadly, according to a document seen by Bloomberg.

Photo: Colourbox

The Westport, Connecticut-based firm is the world’s biggest hedge fund with about $160 billion in assets. The gains for its Pure Alpha Strategy came as other fund managers were whipsawed by volatile markets, resulting in the industry posting one of its worst years ever.

Hedge funds on average lost 6.7 percent in 2018, according to the HFRX Global Hedge Fund Index. That compares with a 4.4 percent decline for the S&P 500 Index of stocks.

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