Renaissance Technologies - Hedge Fund ProfileHere is a collection of links to resources and articles on the hedge fund - Renaissance Technologies. All of these sources below are publicly available and can be easily found by anyone via Google searches. They are listed here for those who would like to skip the junk and learn more about Renaissance Technologies more efficiently than they might through Google alone.
Resource #1: 5.18.09) Most hedge funds flourished in April. Renaissance Technologies took a bath.
The Long Island firm’s Renaissance Institutional Equities Fund lost between 8.33% and 9.47% last month, depending on the share class. The fund, RenTech’s largest, is now down between 16.86% and 17.61%, according to a letter to investors obtained by Dealbreaker. source
Resource #1: (4.3.09) James Simons, the founder of New York-based Renaissance Technologies, was the top earning hedge fund manager last year, earning $2.5bn in spite of the extreme market volatility, as his 20-year-old flagship fund generated a net return of 80 per cent.
A survey by Alpha Magazine, published on Wednesday, describes the returns generated by the Medallion Fund as “hard to fathom”, adding that Mr Simons’ fees are among the highest in the world – a 5 per cent management fee and a 44 per cent performance fee. source
Resource #2: (2.4.09) Renaissance Technologies LLC, the multibillion dollar hedge fund known for delivering top returns by relying on complicated computer models, hired a new president and chief executive officer for its institutional business.
The fund firm, which manages roughly $20 billion, said on Tuesday that it has hired Matthew Scanlan to replace Stephen Robert, who retired from the firm. source
Resource #3 (1.5.09) Over the past few weeks you probably saw signs in retail stores touting "big sales" with discounts of 50% to 70& off. It seems that Wall Street has caught on to main street's way of doing business - discounts, discounts, discounts!
The Renaissance Technologies LLC, a large hedge fund, has waived all of its management fees for 2009. Originally it charged a 1% fixed management fee, but with the new policy it will take a $30 million dollar haircut. However, the other larger Simon's Renaissance Institutional Equities Fund will not cut its management fee in 2009. Other funds are using similar practices. The Citadel Investment Group LLC gave back about $300 million dollars in fees it collected in 2008.
Renaissance, like many other hedge funds, suffered losses in 2008 ranging from 12% to 16% but managed to beat the S & P losses by 4-6%. source
- Letter from Renaissance Technologies how Renaissance Technologies had only 1 percent profit in 2007.
- Article summary how Renaissance Technologies has high fees, but had generated 85 percent returns.
- Article: Jim Simmons Institutional Equities Fund has been down $13 billion dollars.
- SEC may put a new law against short-selling without borrowing, which would hurt any computer based trading hedge fund, like Renaissance Technologies Medallion Fund.
- Article about how CEO’s and Portfolio Managers make too much money- James Simons led the way, earning $1.5 billion.
- Interesting Article about how Renaissance technologies are the 4th largest share holders of Cornerstone Total Return Fund.
- In 2004, Jim Simons, sued two former employees and Millennium Partners, the fund they subsequently joined for using secret trading techniques learned from Renaissance Technologies.
- Article about The Institutional Equities Fund went down $13 billion dollars because investors are scared of recession.
- Article about how Renaissance Technologies opened up in India as a foreign institutional investor.
- Background information on how Renaissance Technologies- Nova Fund contributes today for at least 14% of the total volume of shares in NASDAQ.
- Amazing chart about Renaissance Technologies. Everything from what type of stocks the corporation has to the best and worst moves the company has made to date.
- Extremely interesting article about how Renaissance Technologies chooses each stock to invest into based on certain criteria.
- Article about Jim Simmons donating 60 million to Stony Brook University.
- Renaissance Technologies owns $127,000,000 worth of Sony.
- PowerPoint Presentation about the Medallion fund. Also defines simple hedge fund terms.
- Article about many different hedge funds. Short paragraph about the medallion fund, institutional equities fund. The Institutional fund lost about 3% in July of 2007.
- Article about how Renaissance technologies Nova Fund would end up building up to 10-15% of NASDAQ’s trading volume on a given trading day.
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