Bridgewater Associates is “strongly bullish” on short-term Chinese debt, after its onshore enhanced All Weather fund reaped a 7.4% gain last year amid wild swings in local markets to help it double assets under management.
The All Weather Plus No. 2 fund’s performance was mainly driven by a 4.1% excess return relative to cash generated by the quantitative part of the strategy, according to its December investor letter seen by Bloomberg. “Active management” contributed 1.3% as profits in commodities and bonds offset losses in stocks, the document showed.