Jim Simons’ RenTech fund has fielded over $5 billion of client withdrawals in under 10 weeks, report says

SourceBusiness Insider
SectorFinancial Markets
CountryMiddle east

Renaissance Technologies founder and former chairman Jim Simons. AP Images / Jason Decrow Jim Simons' Renaissance Technologies has been hit by more than $5 billion in redemptions since December 1, Bloomberg reported on Monday. Simons, a former NSA codebreaker and MIT math professor, founded RenTech in 1982. The firm is now the world's largest quantitative hedge fund with about $60 billion in client assets, and boasts one of the best track records on Wall Street. Yet its clients withdrew a net $1.85 billion from its three public funds in December. They also asked to withdraw another $1.9 billion in January, and have requested $1.65 billion so far this month, Bloomberg said. Read More: Wall Street's resident IPO expert shares the strategy behind her ETF that returned 107% last year - plus 3 risks to the current IPO boom and 5 offerings to watch this year RenTech's investors are pulling their money after the firm's international equities fund lost 19% in 2020, its institutional diversified alpha fund...read more...