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The hedge fund was named Medallion in honor of the math awards that Simons and Ax had won. [8] [9] Renaissance's flagship Medallion fund, which is run mostly for fund employees, [10] is famous for the best track record on Wall Street, returning more than 66 percent annualized before fees and 39 percent after fees over a 30-year span from 1988 ...
The Medallion Fund, which has been available exclusively to current and past employees and their families, surged 80% in 2008 in spite of hefty fees; the Renaissance Institutional Equities Fund (RIEF), owned by outsiders, lost money in both 2008 and 2009; RIEF declined 16% in 2008.
Today, let's look at the Renaissance Technologies hedge fund. Every quarter, many money managers have to disclose what they've bought and sold via "13F" filings. Their latest moves can shine a ...
Today let's look at the Renaissance Technologies hedge fund. Every quarter, many money managers have to disclose what they've bought and sold, via "13F" filings. Their latest moves can shine a ...
For such funds, AUM may not be an accurate metric of success. For example, the SPDR S&P 500 index fund manages nearly US$ 400 billion in assets. It is not capacity-constrained, and it is still open to new investors. In contrast, Renaissance Technologies' Medallion Fund has significantly outperformed the S&P 500 index since its
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Renaissance's main fund, Medallion, earned 39% per year on average from 1989 to 2006. [6] A bipartisan Senate panel estimated in 2014 that Medallion investors underpaid their taxes by some $6.8 billion over more than a decade by masking short-term gains as long-term returns. [20] [21] As of 2014, Renaissance managed $25 billion in assets. [2]
He left Stony Brook in 1992 to join Renaissance Technologies. [4] In 2015, a conference was held for his 70th anniversary at Tsinghua University in China. [1] Laufer co-founded the Medallion Fund with Jim Simons in 1988. [5] Laufer served as chief scientist and vice president of research at Renaissance Technologies, its parent company. [6]