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The Ultimate Quant? I wondered …or, wonder.

Back in March I read Alpha magazine’s ranking of the 25 top hedge fund managers and was struck by the reported fact that Renaissance Technologies’ disparity between their funds. The flagship fund produced an 80% return, (after fees!) in 2008 but it open only to “partners, employees, ex-employees and friends”. According to Alpha magazine “Outsiders can invest with Simons through his firm’s two other funds, Renaissance Institutional Equities Fund and Renaissance Institutional Futures Fund, both of which were down last year.” (Emphasis mine)

Today’s WSJ reports on C1 “Simons Questioned by Investors” reports that for this year the Institutional Equities fund is down 17% while the flagship (closed fund) is up 12%.

Does anyone have a good explanation?

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This entry was posted on Friday, May 15th, 2009 at 8:44 am and is filed under Markets. You can follow any responses to this entry through the RSS 2.0 feed. Responses are currently closed, but you can trackback from your own site.

One Response to “The Ultimate Quant? I wondered …or, wonder.”

  1. Mick Mann says:
    June 4, 2009 at 6:45 pm

    Sure they are putting all of the good trades in the closed fund. Just like when Hillary Clinton had her broker trading cattle or whatever for her and he was putting all the winners in her pocket.