Renaissance Quant Equity Fund Gains 4.6% in June

A quantitative equity fund managed by Jamie Simons’s Renaissance Technologies has booked a 4.6% gain for June, further evidence that quantitative investment managers may have best navigated the turbulence in global markets that followed Britain’s EU referendum in late June.

The Renaissance Institutional Equities Fund, is now ahead 13.8% for the year to date, according to a Bloomberg article citing an unidentified person familiar with the performance. The fund trades U.S. stocks and has a long bias, the article noted.

Other Renaissance funds also performed well in June. The Renaissance Institutional Diversified Alpha Fund gained 6.59%, while the company’s newest fund, the $1.5 billion Renaissance Institutional Diversified Global Equities Fund, netted 5.3% for the month, Bloomberg said. 

Simons founded Renaissance Technologies in 1982 after stints as an NSA cryptographic specialist and professor at Stony Brook University. He built the fund into one of the most successful hedge funds in history, overseeing more than $20 billion in mostly quantitative strategies before stepping down from day-to-day management in 2010, and is widely considered to have pioneered the algorithmic trading industry.