Renaissance Institutional Funds Lag the Markets

Renaissance Technologies’ funds geared toward institutional investors are failing to keep pace with the blistering returns posted by its flagship.

Renaissance Technologies’ institutional funds are off to another mediocre start.

The East Setauket, New York firm, founded by James Simons, is best known for its long-closed flagship fund, Medallion. That fund is synonymous with consistently gargantuan gains, average 35 percent a year after deducting its eye-popping 5 percent management fee and 44 percent performance fee.

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