Ray Dalio, the founder of hedge fund behemoth $160 billion Bridgewater Associates, has dethroned George Soros as the most successful hedge fund manager, according to a new ranking.

London-based fund of funds LCH Investments, a subsidiary of Edmond de Rothschild Capital Holdings Limited, just released its annual top 20 "most successful money managers" list for 2015.

The list measures net gains (after fees) of hedge fund manager's since their respective fund's inception.