Just in case his wildly successful track record isn’t enough to draw investors into James Simons’ giant new Renaissance Institutional Equities Fund, the mathematician-turned-money-manager is offering another carrot: flexible fees.
According to people who have seen the offering documents, the new portfolio will give investors a choice of four fee plans: a 2 percent management fee only; a 50 basis point management levy plus a performance fee equal to 10 percent of capital gains; an 80 basis point flat fee plus 25 percent of the excess...
