America’s biggest hedge funds rake in gains while smaller managers struggle

BRIDGEWATER has increased its lead as the biggest hedge fund manager in America, figures released yesterday claimed.

The firm now manages around $50.9bn (£32.4bn), up from $38.6bn  last year to also make it the biggest riser, according to AR magazine’s biannual rankings. Bridgewater, a 35-year-old fund firm founded by Ray Dalio, comfortably outstrips nearest rival JP Morgan, which looks after $41.1bn in its hedge funds business.

The survey shows there are 217 hedge funds managing more than $1bn each, and between them take care of assets worth over $1.9 trillion. The number of firms in the list has increased from 205 this time last year.

However, only 54 per cent of hedge fund managers in the list have added value to their assets this year, said AR.

The biggest loser was D.E. Shaw, which has seen the value of its assets under management slashed by over $5bn in the last year, taking its total to $17.8bn. The firm is in the throes of cutting ten per cent of its workforce.

Paulson & Co, whose flagship fund lost 11 per cent last year, is in third place after gaining $4bn overall.

Firm AUM $ billions
Bridgewater Associates 50.9

JP Morgan 41.1

Paulson & Co. 31

Soros Fund Management 27

Och-Ziff Capital Management Group 25.3

BlackRock 22.83

Angelo, Gordon & Co. 22.68

Baupost Group 22

Farallon Capital Management 20

King Street Capital Management 19.3