US hedge fund Bridgewater Associates’ China private fund unit added exposure to the three largest onshore gold exchange traded funds in the second quarter as those ETFs outperformed other risk assets.All three All Weather China funds managed by Shanghai-based Bridgewater (China) Investment Management moved up among the top 10 shareholders into the three China gold ETFs for the first time during the quarter that ended in June, according to the funds’ interim reports.
Bridgewater’s holdings in the HuaAn Yifu Gold ETF, Bosera Gold ETF and E Fund Gold ETF totalled 214mn shares as of June 30 and were worth Rmb813.6mn ($121.5mn) in market value.
The move marks the first time Bridgewater’s private securities funds, as hedge funds are known are in China, appeared as major holders of China’s public funds.