Renaissance Technologies

6392.102 - 6409.747 Ben Gilbert

Right. It's really funny. There's all these stories about how the marketing documents literally say, this is not the Medallion Fund. We don't promise returns like the Medallion Fund. In fact, we're not charging for it like the Medallion Fund. You know, David, you said that the fees and carry on Medallion went up to, what, $544,000. Well, on the institutional fund, the fees are 1 in 10.