Renaissance underperformance and redemptions – not for everyone

Jim Simons - RenaissanceBloomberg reports that Renaissance suffered another large outflow in April, bringing the total to $11 bn since December.

 RenTech redemptions by month






This being said, not all Renaissance Technology funds are equal:

  • The fund which manages the money from Jim Simons and the employees only, Medallion, was up 75% in 2020 and is flat this year. It saw no redemption. 
  • RIEF, RIDA and RIDGE, which manages the assets from every other investors, which were down 20-30% last year and are slightly up in 2021. That’s where the redemptions were.
  • The three funds’ AUMs are now 25%, 50% and 43% lower respectively, after the combined effects of the underperformance and the redemptions.

Sure, most quant funds didn’t do so well recently, and there has been an estimated $170 bn of redemptions in the segment, but investors don’t like very much that their fund underperform the management’s fund



Bloomberg - Renaissance Suffers $11 Billion Exodus With Meager Quant Returns

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Written by Gontran de Quillacq

Gontran de Quillacq is an expert witness and a legal consultant. He is a recognized authority in options, trading, derivatives, structured products, portfolio management, hedge funds, mathematical finance, quantitative investment, strategy research and financial markets in general.


  1. MoneyMindSoul

    Apparently the funds which lost are using the “Same” model as the Medallion Fund. Sometimes I wonder if the Medallion Returns are even true. How can there be such a large dissonance from Medallion to the rest – Weird.

  2. Sese

    Curious where you saw Medallion is flat for the year? Thanks.



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