Quant pioneer Renaissance Technologies' painful summer continued in July

Quant pioneer Renaissance Technologies' painful summer continued in July

Jim Simons at a gala in March 2019.Sylvain Gaboury/Getty ImagesRenaissance Technologies' two funds available to investors lost money in July, a person familiar said.The long-running money manager also lost money in a tough June, Business Insider previously reported.It's been a painful summer for quant funds, though the end of July showed signs of a turnaround.Renaissance Technologies was not immune to the quant market malaise that infected many …

Renaissance Technologies suffers another tough month amid quant headwinds

Renaissance Technologies, the systematic hedge fund firm founded by mathematician and former Cold War code breaker Jim Simons, saw its difficult summer continue in July, as the quant pioneer posted further losses across key strategies, according to a report by Business Insider. The report cites an unnamed source familiar with the matter as revealing that the Long Island-based firm’s Renaissance Institutional Equities Fund (RIEF) fell 5.1% last m…