In the hedge fund world, the rich are getting richer — but just barely.
At a time when the $3 trillion industry as a whole is struggling to maintain assets, the world's biggest fund just passed the $100-billion mark. Ray Dalio's Bridgewater Associates leads the way, according to the latest rankings from Institutional Investor's Alpha.
But the news is far from all good for the rest of the space.
After a rough first quarter, hedge funds eked out a 1 percent gain in April and are up 0.3 percent for the year as measured by HFRI Fund Weighted Composite Index. Funds saw collective outflows of $15.1 billion in the first quarter.
The Alpha rankings of the top 100 funds by assets showed that assets for the group rose just 1.5 percent as 2016 began. Three firms on the top 10 actually saw net outflows. The top 10: