A secretive quant fund offered staff the rare opportunity to invest — and then delivered a bumper return [The Business Insider]
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Source: The Business Insider
A secretive $73 billion fund offered staff the rare opportunity to invest — and then delivered a bumper return James Simons, director of Renaissance Technologies LLC Jonathan Ernst/Reuters Renaissance Technologies, a secretive $73 billion quant fund founded by math whiz James Simons, gave employees the opportunity to increase their stakes in the firm's flagship fund by 50% or more after President Trump's election — if they could do it in three weeks. At least six employees took out sizable loans in order to do so, Bloomberg News’ Miles Weiss reports . “Many RenTech staffers were caught off guard when told in early December that these limits would be significantly raised for the first time in years,” writes Weiss . With the fresh $2.1 billion injected in January, Renaissance's Medallion fund returned an 11.6% profit in the first half of this year. While the figure isn't as high as comparable periods from 2015 and 2016 — when the fund saw returns of 18% and 21%, respectively —
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