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One of billionaire Ray Dalio's funds is absolutely crushing it in 2015

Julia La Roche
Ray Dalio
Ray Dalio

(Bridgewater)Ray Dalio.

One of hedge fund billionaire Ray Dalio's strategies is up 14% year-to-date thanks to a bet against the euro, Bloomberg News' Kelly Bit reports, citing a source familiar with the fund's performance.

The euro fell to its lowest level in a decade during the first three months of 2015, ending the quarter down 11% against the US dollar.

Bridgewater Associates, the world's largest hedge fund, manages about $165 billion in assets. Earlier this year, Dalio explained that his fund makes numerous uncorrelated long/short bets in about 120 markets.

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