RenTech Canât Be Wrong, So The World Must Be
I mean, no objection with the second clause, but.
Author:
I mean, no objection with the second clause, but.
Last year was one of the best hedge fund in history’s best years ever. Renaissance Technologies’ Medallion Fund, which firm co-founder and piss collector Robert Mercer would probably sacrifice several toes for a larger stake in, enjoyed what appears to be its third-strongest year since inception in 2020, which is saying something for a fund that’s got an annualized return of 39.1% since 1988. But last year it did almost twice that, rising 76%.
Both Jim Simons and his Son Step Down from Chair Roles at Renaissance Technologies
Posted on 01/14/2021
Renaissance Technologies LLC founder Jim Simons, age 82 (83 in April 2021), stepped down as Chairman of his hedge fund. The firm’s CEO Peter Brown is staying on as the sole chairman. Jim’s son, Nathaniel Simons, will also stand down as firm co-chair. Both Jim and Nathaniel Simons will remain on the board as directors.
Jim Simons is a former cold war codebreaker and math teacher. Jim Simons named his son as co-chairman of Renaissance Technologies in January 2020.
Simons stepped back from the day-to-day management of Renaissance Technologies in 2010 when he handed over the reins to Brown and Robert Mercer. Robert Mercer left Renaissance Technologies in 2017.
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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.