Founded more than 40 years ago, Renaissance serves US institutional investors and high-net-worth clients. The investment team employ a large cap growth strategy with a track record spanning more than three decades. They use intensive research and a highly disciplined investment process to provide a diversified and genuinely active alternative to passive funds.

From launch on 1st July 1991 to 30th September 2025, the strategy returned 3,876%* in US dollar terms compared to 3,430% for the S&P 500 index.

The fund’s new co-managers are Michael Schroer and Andy Eng, who work with analysts Curt Ludwick and Brad Zoltak. Between them, the team have more than 110 years’ combined investment experience.

Using a highly structured investment process combining proprietary quantitative and qualitative analysis, the team will hold a portfolio of 50 to 60 companies, with each selected for their strong growth potential, earnings momentum and attractive valuation.

A distinctive feature of the team’s strategy is a policy of equally weighting new stock positions at around 2% of the fund’s overall value. The team cap the maximum size of any position at 4% of the fund’s total value. This strategy is designed to ensure portfolio diversification and reduce the risk of the fund being over-reliant on a limited number of larger holdings.

Renaissance was appointed as the fund’s sub-investment manager on 2nd October 2025 and has taken over from Boston Financial Management. The change follows Boston’s acquisition by US financial advice company Captrust in November 2024.

Richard Goodall, CEO of Marlborough, said: “We hand pick investment managers from around the globe to manage our single-strategy funds. These are specialist teams we believe to be genuinely exceptional and very often the only way their expertise is available to UK investors is through our funds.

“The team at Renaissance have very much impressed us with their highly disciplined investment process, which has been tried and tested over more than three decades.

“At a time when the ten largest companies in the S&P 500 account for almost 40% of the total value of the index – the highest level in history – we believe investors will see value in an active strategy specifically designed to counter concentration risk through a disciplined approach to portfolio diversification.”

Michael Schroer, Chief Investment Officer at Renaissance and co-manager of the fund, said: “We’re very excited about this new partnership with Marlborough, who share our unswerving commitment to delivering superior risk-adjusted returns for clients. Our investment strategy is rooted in intensive research and disciplined decision-making and we’re looking forward to putting it to work for fund investors in the UK.

“While the tech giants that are household names are ‘priced for perfection’, we’re continuing to identify highly attractive opportunities elsewhere in the US market, where valuations are much closer to historical norms. In our view, this focus on genuine stock-picking, rather than simply following the herd, is one of the great strengths of our investment strategy.”

The fund’s ‘P’ class units have an ongoing charges figure (OCF) of 0.82%.

Discrete annual performance of the Renaissance Institutional Composite (to last month end) 

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Capital is at risk. The value and income from investments can go down as well as up and are not guaranteed. An investor may get back significantly less than they invest. Past performance is not a reliable indicator of current or future performance and should not be the sole factor considered when selecting funds.