Bridgewater's flagship Pure Alpha gains 17% in H1, source says
Bridgewater Associates' main funds ended the first half of 2025 with gains, with the flagship Pure Alpha 18% volatility posting a 17% return in the first half of 2025, according to a source familiar with the matter.
The performance comes in a turbulent period for markets, amid concerns about U.S. trade policies. Still, the S&P 500 
SPX and the Nasdaq Composite 
IXIC ended June up roughly 5.5%, at record closing highs.
The firm's Asia Total Return was up 18% in the first half, while the All Weather fund rose 8%, the source said.
Last year, Pure Alpha was up 11.3%, outperforming the broader hedge fund industry. Global macro hedge funds such as Pure Alpha trade equities, bonds, currencies and commodities globally.
The gains come as Bridgewater CEO Nir Bar Dea announced an overhaul in 2023, restricting new inflows to Pure Alpha and returning some assets to clients, noting that a smaller pool of money would allow it to better explore trading opportunities.
The firm also decided to launch new products, such as a fund that uses artificial intelligence to make investment decisions and an exchange-traded fund in partnership with State Street Global Advisors.
Bridgewater was founded by investor Ray Dalio about 50 years ago. Currently, its co-chief investment officers are Karen Karniol-Tambour, Greg Jensen and Bob Prince, as Dalio handed the reins of the firm to a new generation and is mentoring its investors.
