Renaissance Coming to India

I followed the news of Renaissance hedge fund for many years. I am always fascinated with the level of the success they achieved even in bear markets. According to VC Circle, Renaissance is coming to India. Overall, I think this is good news for Indian market.

The New York based fund has received the approval from the capital market regulator SEBI. The entry of Renaissance comes after SEBI invited global hedge funds to directly come to India rather than using participatory notes to invest in Indian capital markets. Following this move, SEBI has registered around 200 foreign institutional investors in the last two months, and out of them at least 20 are large hedge funds.

Renaissance’s $6-billion Medallion fund is believed to have returned more than 50 per cent in the first three quarters of 2007!

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