What is the Medallion fund?

In 1988, the firm established its most profitable portfolio, the Medallion Fund, which used an improved and expanded form of Leonard Baum 's mathematical models, improved by algebraist James Ax, to explore correlations from which it could profit.

How much money was invested in the Medallion Fund in 1998?

Figures are based on net returns, which factor in fund and performance fees: As the above table shows, the value of $100 invested in the Medallion Fund in 1998 would have grown to over $2.1 million by 2018 net of fees. It’s worth noting these fees were significant. They included a 5% fixed fee and a 44% performance fee after 2002.

How exceptional were the Medallion fund's returns over time?

Now that we have covered the history of the Medallion Fund, let’s look at just how exceptional the Medallion Fund’s returns have been over time. What Were the Medallion Fund’s Returns? Renaissance’s flagship Medallion Fund generated 62% annualized returns (before fees) and 37% annualized returns (net of fees) from 1988-2021.