is usually neglected is that - compared to mutual funds-corresponding R-squared values are very low for hedge funds (e.g., 20% for RIEF) placing little trust on the beta number itself. James Simons founded his firm Renaissance Technologies in 1982 in New York. That might mean shorting stocks, making leveraged investments and betting on foreign currencies and commodities. Renaissance plans to cut fees in RIEF, the bigger of the two, to attract new investors. Those gains are even more impressive considering its steep investor fees, including a reported cut of 36% or more of all trading gains and 5% of all money invested. That's well ahead of the broader stock market, which is down more than 11% since the rapid spread of the novel coronavirus and government efforts to contain its spread threaten to bring many economies to a near standstill. The firm last filed a Form D notice of exempt offering of securities on 2020-01-15. The fund is now worth many billions of dollars. Renaissance's computers are some of the world's most powerful, for one. Sign up for free newsletters and get more CNBC delivered to your inbox. Renaissance Institutional Equities Fund (RIEF) The Renaissance Institutional Equities Fund or RIEF as it is also known is another of Renaissance Technologies top … Subscribe to CNBC PRO for exclusive insights and analysis, and live business day programming from around the world. Expert Answer. Invest in ARK's Innovation ETFs – Exchange Traded Funds, designed to aim for attractive performance, uncorrelated to traditional investment strategies. © 2020 CNBC LLC. So, the FOF investor in sum is paying up to 2%. Renaissance is unique, even among hedge funds, for the genius — and eccentricities — of its people. These are inve… The ETFs invest in companies that have recently completed initial public offerings. RIEF, however, is open, and Renaissance believes it still has room to grow, the person said. The fund holds stocks for long periods. The Medallion fund employs a short-term, quantitative trading strategy across many asset classes. Their last reported 13F filing for Q3 2020 included $100,150,081,000 in managed 13F securities and a top 10 holdings concentration of 15.09%. How Can You Invest in the Medallion Fund? The current minimum investment for Rief Trading LLC is $1000. The fund is closed to new investment and has returned an astounding annual average net of 38% (remember, that's after the high fees). It is all but clear whether investors will pony up $50 billion for the new fund, which would make it by far the world's biggest hedge fund. These include global equities, futures, commodities, and currencies. The Renaissance Institutional Diversified Alpha fund, meanwhile, trades equities, derivatives, and various instruments in the global futures and forwards markets, according to fund … The ETFs invest in companies that have recently completed initial public offerings. RIEF investors aren’t pulling capital from the fund in this year’s tumult, the person said. For the eleven years ending in 1999 the Medallion Fund returned a staggering 2,478% compared to Soros’ relatively paltry 1,710%. Lastly, you may be wondering how you can invest in the Medallion Fund. Though Simons no longer has direct oversight of the fund, which exclusively manages employee money, he remains active at the firm. Medallion and RIEF (Renaissance Institutional Equity Fund) are both managed by Renaissance Technologies. Renaissance's most famous fund, Medallion, has been closed to money from outside investors since 1993. RIEF, however, is open, and Renaissance believes it still has room to grow, the person said. Renaissance is secretive, even by the standards of the hedge fund industry. Renaissance is the world’s biggest quantitative hedge fund, with about $80 billion of assets. 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