New losses for Bridgewater on China bets | Paragon Alpha

New losses for Bridgewater on China bets

By Matea Gucec

According to a report by The South China Morning Post, Bridgewater Associates recorded additional losses on its investments in Chinese stocks in the third quarter of the year as Beijing's continued zero-Covid policy and monetary tightening policy in developed markets caused the biggest sell-off since 2015.

The world's largest hedge fund recorded an 11% fall in the value of its stock investments in 44 US-listed Chinese companies during the September quarter on Thursday, according to Bridgwater's most recent 13F regulatory filing, according to the article. In the three months prior, the value of its portfolio fell by 37%.

However, the fund, which was established by the seasoned proponent of China Ray Dalio, bought fresh interests in Yum China and Futu Holdings during the quarter with a total investment of $81.9 million.

The Nasdaq Golden Dragon China Index, which covers 65 Chinese companies, sank 22% in the three months ending September 30, while the MSCI China Index of 715 equities listed domestically and internationally lost 23%. These drops erased $1 trillion and US$237 billion in market value, respectively.

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