A Bridgewater Associates fund’s investment in gold has helped score its biggest return in seven months in February with a 3.02% gain.
Reuters reported that the return last month left Connecticut-based Bridgewater’s Pure Alpha fund up 2.89% this year. Gold prices increased 7% in February amid concerns that the U.S. economy is slowing down.
The Pure Alpha fund has returned an average of 13.6% every year since its 1991 launch, excluding last year’s 5.25% gain.
With about $144 billion in assets under management, Bridgewater was founded in 1975 by Ray Dalio out of a two-bedroom New York City apartment.