(HITC) Billionaire Ray Dalio’s Bridgewater Associates earned almost $5 billion for its clients last year while rivals George Soros and John Paulson lost money, according to a report by hedge-fund investor LCH Investments NV. Bloomberg News reports that Bridgewater was the most lucrative, in absolute terms, of the top-20 hedge funds ranked, and bucked the trend of a generally disappointing year for the industry.
Overall, the biggest funds earned $16 billion after fees, to provide a 2.6% weighted return that “was way below their historical standards,” according to the report set to be published Wednesday.
