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Renaissance Technologies’ famed Medallion fund, available only to current and former partners, had one of its best years ever, surging 76 percent, according to one of its investors. But it was a different story for outsiders who are only able to invest in other RenTec funds two of which had their worst years ever.
The Renaissance Institutional Equities Fund, which launched in July of 2005, lost 22.62 percent through December 25, according to HSBC’s weekly scoreboard of hedge fund performance. A newer fund, Renaissance Institutional Diversified Alpha, fell even more: It fell 33.58 percent through the same time period, HSBC reported. Those two funds’ performance was so poor that they made HSBC’s top 20 losers list for 2020.
10 Best Gold Stocks To Buy Now According To Billionaire Hedge Fund
The billionaire investor Jim Simons is among the most successful hedge fund managers since he founded Renaissance Technologies Corporation in 1982. One of the greatest investors of all time, Jim Simons, like to play with market volatility based on the strategy that almost takes the human element out of investing. The hedge fund with more than $100 billion in asset management uses various complex mathematical models for stock pickings and trade executions. Here is what we said about RenTech previously in two separate articles:
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Jim Simons’ Medallion Fund is the best hedge fund that Insider Monkey has come across. The fund’s returns are so spectacular that Jim Simons became one of the richest people on the planet. Medallion Fund employs high frequency trading and exploits inefficiencies in the stock market. One strategy they use takes advantage of the inefficiencies in the execution of large transactions. O