Bridgewater Associates is a global leader in institutional portfolio management with approximately US$ 140 billion in assets under management, including US$ 75 billion in its Pure Alpha strategies (a hedge fund/GTAA/Portable alpha strategy) and US$ 65 billion in All Weather, its diversified beta strategy/risk parity portfolio. Bridgewater began investment operations in 1975, and is a pioneer in risk budgeting and the separation of alpha and beta, managing Portable Alpha/GTAA, Hedge Fund, Optimal Beta/Risk Parity, Currency Overlay, Global Fixed Income and Inflation-Indexed Bond mandates. Bridgewater manages these portfolios for a wide array of institutional clients globally, including public and corporate pension funds, foreign governments and central banks, university endowments and charitable foundations.