US firm Renaissance Technologies, regarded as the world's most successful hedge fund manager, recorded its first annual loss on a hedge fund since 1988 as its Renaissance Institutional Equities Fund fell almost 1% last year.
The fund, which the firm launched in 2005 saying it had a capacity of $100bn (â¬68bn), five times larger than any other hedge fund, lost 0.95% in the 12 months to the end of December, according to a person who has seen the fund's results.
