Bridgewater Pure Alpha Down Almost 3%

Jul 11 2012 | 1:34pm ET

The man dubbed the world's most successful hedge fund manager was anything but in the first half.

Ray Dalio's Bridgewater Associates, which has posted double-digit returns over the past two years, saw its flagship Pure Alpha fund lose 2.7% over the past six months. Weakness in the dollar and poorly-performing commodity investments hurt the $120 billion firm during the first half, the New York Post reports.

Pure Alpha has returned $35.8 billion for investors since its debut 37 years ago, including $13.8 billion last year, according to LCH Investments.

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