Renaissance Technologies feels quant fund pain

Quant funds have taken their lumps this year. Big macro-type quant funds were among the biggest hedge fund losers last year, and many think the whole idea of quant funds has been tarnished. Adding to the negativity: Renaissance Technologies. This once-mighty firm's Institutional Equities Fund has suffered recently, and it has apparently returned $4 billion to customers, according to an article on the Institutional Investor website. James Simons said last year that the fund could hit $100 billion. It is now about $20 billion. The firm is hardly alone: One estimate holds that investors have redeemed $20 billion from the $120 billion in quant funds.  

For more:
- here's the Institutional Investor article