(Bloomberg) With $2.9 billion in assets, the San Joaquin County pension fund is a small-fry retirement plan. By contrast, Bridgewater Associates is a colossus, the world’s largest hedge fund with $80 billion. That hasn’t stopped the northern California fund from taking Ray Dalio’s firm to task for disappointing returns and high fees. After reviewing the investment for more than a year, the county decided this month to pull its entire $81 million from Bridgewater’s Pure Alpha II fund. The move came even after it gained 14.6 percent last year.
Ray Dalio’s Hedge Fund Dumped by Tiny County Fed Up by Fees Sapping Return
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