Hedge Funds

Renaissance Technologies mulls new blended fund


Renaissance Technologies has told investors it will likely start raising capital on January 1 for a new fund that would blend the strategies of Renaissance Institutional Equities Fund, which was launched in July 2005, and Renaissance Institutional Futures Fund, which was to have begun trading on October 1.

RIFF will rely on some of Renaissance's longer term models and is expected to trade 50 to 60 futures instruments, including foreign exchange, equity indices, interest rates, bonds and commodities, according to an investor. The fund will charge a 1% management fee and 10% performance fee and is expected to offer