american investment management firm founded firm serves institutional clients including pension funds foundations foreign governments central banks utilizes global investing style based economic trends inflation currency exchange rates gross domestic product began institutional investment advisory service graduated institutional investing pioneered risk investment approach company moved headquarters new_york_city connecticut currently engages employees corporate culture encourages transparency elimination decision making hierarchy world largest fund company billion assets management history firm history includes pioneering industry strategies currency separation alpha beta strategies creation absolute return products risk according company fastest growing asset manager stopped accepting new accounts assets management increased year decade employees times year levels company research reportedly read leaders central banks managers pension funds world consulting research money management founded office manhattan apartment time business consisted exclusively advising corporate clients management domestic international currency interest rate risks firm later changed emphasis began selling economic advice governments corporations company began publishing paid subscription research report called inspired main supplier clients early 1980s client treasury department director later joined company moved offices new_york_city connecticut company account funded million fixed income investment mid-1980s firm changed business focus currency interest rate management global bonds institutional investors fixed income currency adviser institutional clients company gained reputation currency trader developer techniques launched fund portfolio began formally offering currency products clients present pure alpha weather developed innovative investment strategies 1990s inflation bonds currency emerging market debt global bonds super long duration bonds firm pioneered separation alpha beta investments developed strategy called alpha involved portfolio investments risk return combined cash investment market firm launched pure alpha fund began market portable alpha investment strategies pure alpha fund market funds popular company expanded assets connections pension funds clients firm introduced global bond program company executives participated discussions advised federal government development inflation bonds launched weather fund pioneered risk approach portfolio management firm assets management grew billion mid-1990s billion year june firm ranked best performing global bond manager year prior years magazine company ranked world best money manager recognition return program firm received excellence global bonds award following year company received magazine currency manager year award best class awards operations survey company flagship pure alpha fund began returning money clients order maintain investment strategy enforce capacity limit firm began moving clients alternative strategies pure alpha weather funds eliminating traditional investment approach year honored magazine lifetime achievement award magazine currency manager year award alternatives manager year award firm total assets management grew billion billion year according article magazine better prepared global market crash clients subscribers company began sounding spring dangers excessive financial leverage company researchers reviewed public accounts major financial institutions globe found estimated future losses bad debts totaled billion december conclusions reported company founder met secretary staff white_house economic advisers fund spared investors stock market strategy successful economic growth responded faster anticipated jones industrial average increased company pure alpha fund reportedly gained mere senator john_mccain visited firm addressed company employees presidential campaign teacher retirement system texas invested million stake company founder began term process february describe process mortgage industry distinct recession year company termed largest fund received annual lifetime achievement award manager year award gross domestic product firm significant gains investments treasury bonds november founded billion fund brought company total assets management billion firm received honors ranked number world funds list received focused fund firm year award fund industry innovation award alpha ranked company number categories connecticut expected approve plan end million grants loans exchange job training job creation building renovations company agree retain jobs support connecticut company eligible million urban tax credits investment philosophy according global firm uses investment methods identify new investments avoiding unrealistic historical models goal structure investment returns based risk asset additionally company reported accept funds institutional clients pension funds foundations central banks private investors separation alpha beta company divides investments basic categories beta investments returns generated passive management standard market risk alpha investments goal generate higher returns general market actively managed principle separating alpha beta investments introduced gained recognition equity managers beginning year firm reported fund manager separate alpha beta investment strategies offer dedicated investment funds systematic according uses investing system combines traditional markets world attempts invest instruments markets lock step guide investment strategies company executives compiled hundreds decision rules financial firm employee handbook principles investment guidelines incorporated firm computer analysis products firm offers funds clients pure alpha fund weather fund fund publishes white paper called read investors worldwide subscription basis pure alpha launched flagship fund fund described alpha source group asset classes designed balance risk variety non assets active management includes simultaneous trading positions bonds stock avoid affecting prices concentrating funds single area placing company excess cash pure alpha fund increase investing discretion fund closed new investors reached pre determined maximum funds level fund reported lost money years existence average return success pure alpha reportedly portable alpha management style trades asset classes weather second fund called weather launched highlighted low fees global inflation linked bonds global fixed income investments fund began founder personal trust fund subsequently opened clients goal fund create high risk adjusted returns exceeded return general market weather fund contains billion largest funds april collapse fund moved safe portfolio mode included nominal inflation linked bonds gold instead emerging market debt fund reported contain stocks instance basket intermediate term year year gold guidance ceo firm created billion existing clients summer fund opened group outside investors total advance commitment billion time reported largest fund launch fund established provide investment vehicle similar company pure alpha fund enhanced focusing major markets european bonds launch fund brought company total assets management billion daily observations company daily observations subscription white paper flagship product service offered company characterized comprehensive editions pages length reported widely pieces market analysis industry read leaders central banks managers global pension funds treasury secretary president barack_obama corporate affairs headquarters company moved headquarters miles north new_york_city connecticut late 1990s moved larger office space corporate campus connecticut company continued expand sole tenant acre campus firm headquarters described retreat like surrounded trees nature reserve campus contains buildings modern glass staff grown employees firm taken office space additional buildings area effort consolidate offices company plans build square foot headquarters miles present location cancelled project employees grew employees employees company reported fund managers hires analysts employees right college annual pool graduates ivy league schools yale_university harvard_university princeton_university columbia_university employees transported daily fancy bus ferries manhattan company offices according article quarter new hires leave years remain reported receive generous compensation form bonds fellow employees like family company founder helps pay employees wish learn meditation technique founder relinquished chief executive officer ceo title july role mentor company administration consists ceo company chief investment officers ceo year old ceo oversees research programs firm came company intern years earlier joined ceo november left months later according cultural fit problem harris superstar absolutely fabulous character early general counsel united_states deputy attorney general current director corporate culture saw firm taking hundreds new employees decided create handbook called principles distributed employees publication said self help book management manual treatise mechanics natural selection function business setting according trade journal years publication principles firm rapid expansion led institution bizarre culture criticism company acknowledges employees encounter culture shock begin working admits according company web site employees encouraged discussions disagreements mistakes considered intentional company culture felt stimulate learning progress article described company largest fund commitment total honesty minute detail corporate culture example encourages employees takes company great emphasizes transparency decision making processes meetings recorded viewed employee long meeting topic addition says extreme ideas asserts decisions investments considerations hierarchy says employee firm prepared challenged return company flat corporate structure aims remove barriers associated traditional asset management firms qualities like risk discouraged company likened cult denies insists firm dedicated community article new_yorker says word cult clearly don apply enterprise staffed highly paid employees quit moment says company located away financial institutions headed strong leader employees use unique vocabulary client chief executive officer said firm investment manager culture unique atop giant fund wall_street_journal reported called votes conduct asked firm management committees believe integrity
Bridgewater Associates