(Bloomberg) -- Ray Dalio suffered his first annual loss since 2000 in his most prominent fund.
Bridgewater Associates Pure Alpha II fund fell 0.5% last year, even as many of his peers posted some of their best returns since 2008.
It was the fourth time he has lost money in a calendar year since starting Pure Alpha II in 1991, according to data compiled by Bloomberg and a person familiar with the results.
Macro managers last year had their best performance since 2014. The Bloomberg Macro Hedge Fund Index rose 6.4%, according to preliminary figures published on Tuesday.
Dalio, whose firm manages about $80 billion in so-called macro funds, has had an annualized return of about 4% since the end of 2011 -- even after his Pure Alpha II fund jumped almost 15% in 2018. Since inception, the fund gained 11.5% on an annual basis.
Read: Dalio is more famous than ever and posting subpar returns
Here are some other returns for macro managers:
- Alan Howard's Brevan Howard Master Fund returned 8.4% last year
- Bradley Wickens's Broad Reach Fund returned 42.3% for 2019
- Greg Coffey's Kirkoswald Asset Management was up 29% through October.
Institutional Investor earlier reported Bridgewater's results. A representative for the firm declined to comment.
To contact the reporter on this story: Katherine Burton in New York at kburton@bloomberg.net
To contact the editors responsible for this story: Sam Mamudi at smamudi@bloomberg.net, Alan Mirabella, Josh Friedman
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