Bridgewater Associates is experiencing a surge of interest in China, with wealthy investors pouring billions into its hedge funds, often facing limited allocations or waitlists to access the products, according to a report by Bloomberg.
The report cites unnamed sources familiar with the matter, as revealing that major Chinese private banks, including China Merchants Bank, are reserving Bridgewater funds for top clients, frequently requiring holdings of at least RMB10m ($1.4m). Even then, clients are often only able to purchase a fraction of their requested allocation, and some are shut out entirely.
The firm’s All Weather Plus strategy, which blends founder Ray Dalio’s risk-parity approach with active management, posted returns exceeding 35% in 2024, boosting assets under management in China by around 40% to over RMB55bn. By comparison, many global rivals have struggled to gain traction, with firms such as DE Shaw & Co. and Two Sigma holding just RMB5bn–RMB10bn yuan locally, and Vanguard having exited the market entirely.
The firm’s onshore operations have continued to expand, with assets in its Shanghai-based fund surpassing RMB60bn, placing it alongside some of China’s largest quantitative hedge funds. In 2025, its onshore fund gained 18% over the first seven months, generating an annualised return of nearly 20% since its 2021 launch, with a maximum drawdown of just 6.6%.
Bridgewater’s China-focused funds primarily invest in local equities, bonds, and commodities, while strategic bets on gold and active management have driven strong performance, according to analysts at Industrial Securities.
