This has been a volatile month for hedge fund managers in general. According to several databases, most of them are losing money in June and many are down for the year.

This is especially true among macro managers even though they theoretically have the most latitude to navigate through a wide variety of markets to find the best strategy.

However, one macro firm that is doing well this year is Ray Dalio’s Bridgewater Associates, the world’s largest hedge fund firm with $58.9 billion under management at year-end, up about 70 percent from the prior year. Its $37 billion (at year-end) flagship Pure Alpha fund is up 11 percent net of fees so far this year, including up 1 percent in June.