Bridgewater Moves To Keep Reports Secret

Transparency may be the buzzword in alternative investment circles these days, but Bridgewater Associates is none-too-happy about too much transparency.

The Connecticut hedge fund giant, which has more than $70 billion in assets under management, is trying to tamp down on the tendency for its daily communiqués with clients to find their way into reporters’ inboxes. Bridgewater began encrypting its electronic communications last week in order to keep them from being forwarded to the press.

Ironically enough, news of the firm’s new policy comes via an e-mail forwarded to the New York Post.

Anticipating a new problem—clients unable to figure out how to get to the firm’s reports—Bridgewater has set up a help desk to guide its investors through the multi-step process, the tabloid reports.

In May, Bridgewater chief Raymond Dalio told the firm’s investors that the Westport, Conn., shop was planning something to keep his words from getting into the wrong hands, such as “the media, competitors and dealers.”