Computer-driven hedge fund Renaissance Technologies was wrongfooted after Donald Trump’s “liberation day” tariff announcement last week sent shockwaves across global financial markets.
The Renaissance Institutional Equities Fund, one of the group’s flagship strategies offered to external investors, was down about 8 per cent for April as of Friday last week, according to three people familiar with the figures. The losses reduce the fund’s 2025 gains to 4.4 per cent.
Renaissance’s losses underscore the tumult in financial markets since Trump last Wednesday said the US would impose universal 10 per cent levies and far higher duties for many of America’s leading trading partners.
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