James Simons Renaissance Technologies tops earnings with a sizeable $1.7 billion in 2017 which puts him at the top of the rich list of hedge-fund earners in 2017.
“When everyone is running around like a chicken with its head cut off, that’s pretty good for us,” said the hedge-fund legend James Simons during the dot-com bubble in November 2000.
Put another way, volatility is good for the hedge-fund business and everything around it, brokers, traders. Volatility is back again and skillful traders with strong constitutions and deep pockets are milking these markets.
So James Simons Renaissance Technologies tops earnings last year according to the 17th edition of the Institutional Investor’s annual Rich List.
“When everyone is running around like a chicken with its head cut off, that’s pretty good for us”
The world richest hedge-fund managers became even richer last year
Simons Renaissance Technologies tops earnings at $1.7 billion making him the highest paid money manager last year.
Perhaps that is no surprise because if you want James Simons Renaissance Technologies to manage your money he is going to take 44% of the winnings which is more than double the industry standard of 2-20, 2 percent management fee and 20% on the winnings.
But in a world where there is no prize for coming second – winner walks away with the whole pot and leaves the loser with nothing Simons is probably finding no shortage of takers, despite his high fee.
Renaissance Technologies asset under management amounted to $57 billion in 2017.
“Once again James Simons Renaissance Technologies tops earnings at $1.7 billion in 2017”
The top 25 earners last year made a total of $15.38 billion, which works out to an average of $615 million.
That is an increase of about 40 percent from 2016, a year when the top 25 collectively earned the lowest amount since 2005.
James Simons Renaissance Technologies tops earnings but it has been a pretty good year overall for the world’s top 25 hedge-fund managers who last year collectively made the most money in four years.
Once again James Simons Renaissance Technologies tops earnings at $1.7 billion in 2017.
This past year the three Renaissance Technologies algorithmic hedge funds which are also available to outside investors posted double-digit gains.
Renaissance Institutional Equities Fund (RIEF) rose 14.47 percent, Renaissance Institutional Diversified Alpha Fund (RIDA) rose 11.15 percent, and Renaissance Institutional Diversified Global Equities Fund (RIDGE) climbed 13.29 percent.
“If you want James Simons Renaissance Technologies to manage your money he is going to take 44% of the winnings which is more than double the industry standard of 2-20”
So here is the list of the world top hedge-fund managers with James Simons Renaissance Technologies top earnings holding the crown.
1. James Simons, Renaissance Technologies, $1.7 billion
2. David Tepper, Appaloosa Management, $1.5 billion
3. Ken Griffin, Citadel, $1.4 billion
4. Ray Dalio, Bridgewater Associates, $1.3 billion
5. Izzy Englander, Millennium Management, $975 million
6. Chris Hohn, TCI Fund Management, $775 million
7 Daniel Loeb, Third Point, $625 million
8. Chase Coleman, Tiger Global Management, $600 million
8. David Shawn, D.E. Shaw Group, $600 million
10. John Overdeck, Two Sigma, $570 million
“Renaissance Technologies asset under management amounted to $57 billion in 2017”