Saturday, 26 July 2014
Last updated 14 hours ago
Jul 5 2007 | 11:16am ET
Renaissance Technologies, the quantitative hedge fund shop run by billionaire former math professor James Simons, is planning a mammoth managed-futures fund for an October launch.
The as-yet-unnamed fund will have a $25 billion investment capacity, Hedge Fund Alert reports. The new vehicle gives Renaissance—already one of the largest hedge fund managers in the world with some $26 billion in assets under management—a pair of potentially massive funds, following last year’s launch of the currently $9 billion Renaissance Institutional Equities Fund, which has a whopping $100 billion capacity.
According to HFA, the proposed fund will invest only in the most liquid areas of the futures market, with the firm saying its strategy will fall somewhere between its $6 billion flagship, the short-term Medallion Fund—which has annualized returns of some 37% since 1989 and now manages mostly proprietary capital—and the newer Institutional Equities Fund, which features longer positions.
The newsletter also reports that Renaissance, based in the Long Island hamlet of East Setauket, N.Y., just up the road from the State University of New York at Stony Brook, where Simons chaired the math department, is prepping a version of the Institutional Equities Fund that would trade non-U.S. stocks.
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…