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Bridgewater Becomes Top Foreign Hedge Fund in China

Bridgewater, a hedge fund company founded by Ray Dalio, has doubled its assets in China over the past year to more than 20 billion yuan, making it the biggest foreign hedge fund in the country.

Ray Dalio
Ray Dalio

This significant growth was aided by Bridgewater China's launch of a new product in December, which raised 2.7 billion yuan. The success of this launch further emphasizes the popularity of Dalio's "All Weather" strategy in China.

The Connecticut-based company launched its first onshore China fund in 2018, and within three years, its assets under management in China exceeded 10 billion yuan. This growth placed Bridgewater ahead of competitors Winton and Man Group to become China's most significant foreign hedge fund.

Bridgewater's success in China is rare for global fund managers struggling to grow in the competitive $10 trillion asset management market.

Managing Director of fund consultancy Z-Ben Advisors, Peter Alexander, stated that Bridgewater's growth "shattered the myth" that foreign firms can't compete locally in China. He added that the belief that China is too competitive for foreign firms to grow is "simply untrue."

Bridgewater's "All Weather" strategy, designed to be indifferent to shifts in economic conditions, has proven popular in China, where unpredictable events have roiled markets. This steady performance and Dalio's long connection with China has been a major selling point for the hedge fund's China funds, which mainly target wealthy individuals.