Renaissance Technologies, the $19 billion hedge fund whose cadre of science and math Ph.D.’s deploys complex computer trading strategies, has flourished amid the bloodletting of August, the NY Times’ Dealbook reports.
RIFF rose 6.6 percent for the month, putting it up about 9.2 percent so far for the year, according to the person, who spoke on the condition of anonymity because the information was private. RIFF, a $3 billion fund that trades futures contracts, has stepped up its performance this summer, after finishing June down 2 percent. Since its founding in 2007, RIFF has returned 5.25 percent on average.
RIEF, meanwhile, notched gains of 5.4 percent this month for a yearly gain of 25.6 percent. Started in 2005, RIEF trades United States stocks and aims to outperform the Standard & Poor’s 500-stock index. But rather than dart in and out of equities with rapid trades like its “quant” competitors, the fund hold stocks for a longer period….
Find out more at http://dealbook.nytimes.com/2011/09/01/renaissance-defies-august-doldrums/
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