Renaissance Technologies to Close $1 Billion Hedge Fund

Hedge-fund giant Renaissance Technologies LLC is shutting an underperforming fund “due to a lack of investor interest,” according to a letter to investors reviewed by The Wall Street Journal. The $27 billion firm said it would wind down its Institutional Futures Fund, which manages $1.3 billion, by the end of the month. The fund was down 1.75% this year through September. (Wall Street Journal)