Ray Dalio Usurps George Soros As “World’s Most Successful Hedge Fund Manager”
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Bridgewater Associates’ founder Ray Dalio has overtaken George Soros as the “world’s most successful hedge fund manager” of all-time, claimed a report by the Financial Times on Tuesday, after Dalio’s Bridgewater Pure Alpha fund made over $13.8 billion for his investors last year.
Bridgewater Associates’ founder Ray Dalio has overtaken George Soros as the “world’s most successful hedge fund manager” of all-time, claimed a report by the Financial Times on Tuesday, after Dalio’s Bridgewater Pure Alpha fund made over $13.8 billion for his investors last year.
The enigmatic businessman, who the New Yorker described last year as someone more suited for a “role of world philosopher”, also managed to have three of the industry’s top 12 best-performing funds last year, with Dalio’s Pure Alpha II running up a 23.5 percent gain in the first ten months of last year.
But the key to Dalio’s prominence has always been his original Pure Alpha fund, which today is the largest hedge fund in the world – with assets of around $71.9 billion under its management and net gains of around $35.8 billion since its inception in 1975.
Soros’s Quantum Endowment Fund, which was founded in 1973, on the other hand only handles around $22.2 billion at present, with net gains of $31.2 billion since its creation. Soros’s returns have also been halted since he stopped managing other people’s money mid-last year.
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Related: Billionaire Investor George Soros Sets Up Philanthropic Arm In BurmaStill, Dalio’s achievements are particularly noteworthy given his strategy of macro investing.
[quote]“Macro investing is notoriously difficult, but the best managers are able to find opportunities, especially in troubled markets,” said LCH’s Investment chairman Rick Sopher.[/quote]Dalio also has “an uncanny ability to anticipate economic trends,” said John Cassidy in his New Yorker piece last year, with numerous of Dalio’s compeers describing Bridgewater’s culture as a “cult.”
[quote]“Bridgewater is a cult. It’s isolated, it has a charismatic leader and it has its own dogma,” said one former colleague to the magazine.[/quote]John Paulson’s New York-based hedge fund Paulson & Co rounded up the top three hedge funds in the world, despite losing over $9.6 billion of its investors’ money last year. His overall returns managed to clock in at $22.6 billion, with the fund having been started in 1994.
