Renaissance Technologies’ troubled hedge funds experience Resurgence in 2011
|May 10th, 2011||
|Nearly swept into the trash heap a year ago by Renaissance Technologies LLC, two of its underperforming funds have sprung to life this year outperforming their peer group averages. According to a Reuters news report, the Renaissance Institutional Equities fund (RIEF) and the Renaissance Institutional Futures fund (RIFF) returned 14 percent and 3 percent, respectively, in the first third of the year. |
The exit of long-time fund manager and Renaissance Technologies Corporation founder, James Simmons, in 2010 paved the way for new vitality in the form of two new managers, Peter Brown and Robert Mercer. The Renaissance Institutional funds have since seen renewed interest by insiders who have increased their investment in the two Renaissance hedge funds over the last 12 months.
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