Renaissance futures fund gets off to a flying start


Renaissance Technologies’ new Institutional Futures Fund Offshore got off to a strong start, with Class A shares reporting a 2.72% gain in the first 12 days. The fund launched on October 1, as planned, with an estimated $1.2 billion in capital.

RIFF, as the fund is known, makes use of some of the quantitative firm’s longer-term models, trading between 50 and 60 futures instruments including foreign exchange, equity indices, interest rates, bonds and commodities.

Renaissance, of East Setaucket, N.Y., manages $29.2 billion, making it one of the ten largest hedge fund groups in the United States, according to the