Re:Jim Simons has died
by TeaBrain on Friday May 10, 2024 @03:15PM
(#40322825)
Their returns worked out to something like an average of 39% per year after fees, which is the figure I've heard cited. This may be what they were thinking of. Renaissance was/is known for having higher fees than likely the entirety of their competition, which they can get away with since their returns still outstrip the rest after the higher fees.
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The fund is closed off to outsiders, so the fees are don't matter in the same way they do for most funds. In the podcast episode on Rentec done by Acquired, the hosts speculated that rentec kept the high fees as a way to ensure they have enough to handsomely pay less tenured employees who don't yet have much money in the fund.
That’s a great episode and covers a lot in depth. Would recommend Acquired in general - appeals to me as interested in tech, business and finance