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Renaissance Hit With $5 Billion in Redemptions Since Dec. 1

  • Public hedge funds at Simons’s firm posted worst-ever losses
  • Unprecedented market swings tripped up quant managers in 2020
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WATCH: Jim Simons’s Renaissance has seen at least $5 billion in redemptions since Dec. 1.Source: 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.