New York City
Renaissance Institutional Equities Funds (“RIEF”) invest primarily in US and non-US equity securities publicly traded on US exchanges, based on a quantitative, long-biased investment strategy. RIEF has been designed to achieve attractive risk-adjusted returns that, on a gross basis, exceed in the long term the average yearly returns of the S&P 500 Index with dividends reinvested (the “Index”). RIEF seeks a higher Sharpe ratio than the Index, a beta to the Index of 0.4 or lower, and most returns generated as alpha relative to the Index. RIEF is not a tracking fund and seeks to provide diversification from the Index. The RIEF investment process is automated and employs proprietary statistical models of price prediction, risk, and trading cost to build a portfolio of thousands of long/short positions. RIEF is also designed to be net $100 long for each $100 of equity, with leverage constraints that generally average 2.5 to 1.0 (1.75 long/.75 short). Research is ongoing, with the aim of improving the Sharpe ratio potential of Renaissance’s investment strategies.
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