Good gRIEF

摘要

"Luck", James Simons, the founder of Renaissance Technologies, a hedge fund, once said, "plays a meaningful role in everyone's lives." Mr Simons, a 71-year-old former university professor and a celebrated mathematician, has been blessed with the stuff. His flagship fund, Medallion, has had average annual gains of more than 35% for 20 years. Last year he was named the best-paid hedge-fund manager in America by Alpha, a hedge-fund magazine, reportedly earning $2.5 billion. Medallion gained 80% last year, and this year is up a further 12%.rnBut Medallion is 98% employee owned and has not accepted new money for 15 years. So to cater to outside investors, Renaissance has since 2005 marketed another "mega fund" known as the Renaissance Institutional Equities Fund (rief).