Bridgewater Associates has seen a surge in assets from wealthy Chinese investors on the back of strong performance by its flagship China fund, which has gained 11% this year as of August, according to a report by Bloomberg.

The performance of the All Weather Plus No2 fund compares with a 3.5% average among its local multi-asset fund rivals and is better that every other fund in that category managing more than RMB10bn, according to a data compiled by Shenzhen PaiPaiWang Investment & Management Co.

The report cites unnamed sources familiar with the matter as confirming that onshore China assets under management at the Westport, Connecticut-based investment company have climbed to more than RMB30bn ($4.1bn), after doubling last year to more than RMB20bn.

The All Weather fund, which trades a wide range of asset classes from stocks to bonds and commodities helping it to navigate big swings in China's markets, gained 0.3% before fees in August, while the CSI 300 Index stock gauge slumped by 6.2%.