Bloomberg: “Renaissance Technologies, the investing giant that just posted its worst-ever returns across its public funds, has been hit with at least $5 billion in redemptions. Clients pulled a net $1.85 billion across the three hedge funds in December and requested a net $1.9 billion back in January, according to investor letters seen by Bloomberg. Investors are poised to yank another $1.65 billion this month, the letters show.”
“Those figures could be offset if there are any inflows in February or if investors decided to walk back any of their redemption requests. Billionaire Jim Simons’s firm, a quant-investing pioneer, is coming off a rough year. Its three public hedge funds posted double-digit losses in 2020 as their algorithms were thrown out of whack by market swings the computers had never seen before. At the same time, its fund for employees and insiders soared 76% last year, Institutional Investor reported.”