History
Started in 1982 by James Simons, Renaissance currently has more than $23 billion in assets under management. Since 1989, the company's $5 billion Medallion Fund has averaged 35% annual returns after fees. The Medallion Fund is one of the most successful hedge funds. In 2011, out of 144 tech pro, Renaissance Technology was ranked as no. 4 of the best IT department in financial services. Simons retired at the end of 2009.
Renaissance charges a management fee of 5% and a profit participation of, initially 36%, and now 44%, both of which are higher than the industry standard of 2% and 20%, respectively.
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Famous quotes containing the word history:
“History is more or less bunk. It’s tradition. We don’t want tradition. We want to live in the present and the only history that is worth a tinker’s damn is the history we make today.”
—Henry Ford (1863–1947)
“There is a history in all men’s lives,
Figuring the natures of the times deceased,
The which observed, a man may prophesy,
With a near aim, of the main chance of things
As yet not come to life.”
—William Shakespeare (1564–1616)
“Certainly there is not the fight recorded in Concord history, at least, if in the history of America, that will bear a moment’s comparison with this, whether for the numbers engaged in it, or for the patriotism and heroism displayed.”
—Henry David Thoreau (1817–1862)