Bloomberg reports that Renaissance suffered another large outflow in April, bringing the total to $11 bn since December.
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…
4 Responses
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.
Curious where you saw Medallion is flat for the year? Thanks.
In the Bloomberg article