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Renaissance Technologies Posts 21% Drop at Market-Neutral Fund

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Renaissance Technologies, the quantitative hedge fund firm founded by Jim Simons, lost almost 21% this year through the first week of June in its market-neutral vehicle.

Part of the decline for the Renaissance Institutional Diversified Alpha fund came this month amid volatility brought on by the coronavirus crisis, according to a person briefed on the matter. The fund lost almost 9% in the first week of June, said the person, who asked not to be identified because the information isn’t public.