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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