. The Medallion fund used mathematical models to explore correlations from which they could profit. Equities had proven difficult for the Renaissance team to break. The addition of equities allowed the Medallion fund to scale to thousands of assets.
The performance of the Medallion fund has astounded everyone. If you had invested $1,000 in the Medallion Fund, after 30 years, you would now have $20 million.
Medallion Fund work through: 1. Data 2. Strategy 3. Leverage 4. Algorithmic Trading 5. Position Sizing 6. Combining Several Small Wins
The Medallion fund manages roughly $10 billion in assets. The secret to their outperformance also lies in the fund size. They have never let the fund get too big.
The Medallion fund has been closed to outside investors since 1993. It is available only to current and past employees of Renaissance Technologies and their families.
The Renaissance Technology funds open to the public have not fared as well. The Renaissance Institutional Equities Fund only trades in stock. The fund holds stocks for long periods.