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Bridgewater Associates fund traded Tesla for its Chinese rivals

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Bridgewater Associates, the world’s largest hedge fund, is changing its priorities. The fund created by Ray Dalio abandoned the shares of Elon Musk’s company and sent assets to emerging markets, shares of companies from China and securities related to the protected sectors of the American market.

The fund manages $150 billion in capital. The fund’s management makes decisions based on quantitative valuation models. He is known for a wide diversification of assets, thus reflecting one of the main paradigms in financial management. Hedge fund founder Ray Dalio says the fund’s philosophy is based on global macroeconomics.

In the first quarter of 2022, the fund got rid of all Tesla shares and doubled its investments in the assets of its competitors from China, Li Auto, Xpeng and Nio. All these companies specialize in the production of electric cars.

Information about the change in priority areas for the Dalio Foundation is reflected in documents published by US regulatory authorities. According to these documents, fondzh sold shares in Elon Musk’s company from January to March, while at the same time increasing the share of Chinese manufacturers.

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