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Investors including public pensions in New Mexico, Oregon and Ohio have yanked out cash, slashing the size of the funds by an estimated $70 billion from their peak three years ago.
Ray Dalio's once-lauded risk-parity strategy is facing investor exodus after years of underwhelming returns.
Investors cut the amount in risk-parity funds to about $90 billion by the end of 2023, from a peak of about $160 billion in 2021.
Many of the institutional investors who sunk large sums into Bridgewater’s risk-parity funds are demanding it back.