Ray Dalio's primary hedge fund shed 6% of its value this year as of August 23, according to a new report from Bloomberg. Dalio's Pure Alpha fund, which invests in macroeconomic trends, took significant losses from bearish bets on global interest rates. While Dalio's funds are struggling, other macro managers are capitalizing on investment opportunities sprouting from geopolitical uncertainties. Visit the Markets Insider homepage for more stories. One of Ray Dalio's main hedge funds is struggling this year. The Bridgewater Associates founder's Pure Alpha fund lost 6% of its value through August 23, according to a new report from Bloomberg.