Renaissance Stock Fund Jumps 22% in 2016, Besting Other Quants

An equities-focused hedge fund managed by Renaissance Technologies jumped 21.5 percent in 2016, almost double the rise in the U.S. stock market, according to a person with knowledge of the matter. 

The performance was boosted by a 5.8 percent jump in December, said the person, who asked not to be named because the information is private. Last year marked the fourth straight year of double-digit gains for the Renaissance Institutional Equities Fund, according to an investor document. By comparison, the S&P 500 Total Return Index rose 12 percent last year.

The $36 billion Renaissance, which was founded by billionaire Jim Simons, is regarded as the most successful quant hedge fund of all time. Its computer-driven funds rose in a year where many others struggled; the HFRI Macro Systematic Diversified Index fell 1.3 percent in 2016.

Renaissance also saw gains in the Renaissance Institutional Diversified Alpha fund that invests in futures and equities. It climbed 10.7 percent, according to the document. An external spokesman for Renaissance declined to comment.

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