New York (HedgeCo.net) – Bridgewater Associates’ Pure Alpha II fund has gained almost two percent in November and that has lifted the year to date return to 9.5 percent, this according to a report from Reuters.

The fund is managed by Bridgewater’s founder Ray Dalio, Robert Prince and Greg Jensen and it has assets under management of approximately $81 million. While Dalio and Bridgewater have come under fire in recent months for the risk parity strategy used with their All Weather fund, the Pure Alpha II fund uses a more traditional hedge fund strategy of making directional bets on various asset classes including stocks, bonds, commodities and currencies.

With the year to date return, the Pure Alpha II fund is one of the better performing hedge funds on the year. The average hedge fund is down 1.57 percent according to the latest performance report from the HFR Global Macro Index. The All Weather fund has performed below average with a loss of 4.5 percent on the year.

Bridgewater has to be pleased with the performance of the Pure Alpha II fund as it has been a tough year and a year that has seen a number of other funds being shut down by their managers.

Rick Pendergraft
Research Analyst
HedgeCoVest