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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. [58]
The fund has delivered positive returns for most years since inception, except in 2008 (-23%), 2015 (-18%), 2018 (-29%) and 2022 (-21%). [8] Its largest annual gains were in 2010 and 2019 with 82% and 70% return respectively. [9] [10] The consistent outsize returns set the firm apart in the hedge-fund industry. Hedge funds globally have ...
The Fidelity Magellan Fund (Mutual fund: FMAGX) is a U.S.-domiciled mutual fund from the Fidelity family of funds. [1] It is perhaps the world's best-known actively managed mutual fund, known particularly for its record-setting growth under the management of Peter Lynch from 1977 to 1990. [ 2 ]
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Andrew Mead Murstein (born June 29, 1964) is an American businessman. He is the founder, president, board member and, with his family, the largest shareholder of Medallion Financial Corp., an investment company publicly traded on the Nasdaq stock exchange under the symbol MFIN.
Brown is a son of Henry B. R. Brown, who invented the world's first money market fund, the Reserve Fund. [2] Brown's great-grandfather was United States federal judge Addison Brown, who was also a botanist and a founder of the New York Botanical Garden.
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