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

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 and the Nasdaq Composite 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.