$5 Million Assets

As of 2011, about 100 of 275 Renaissance employees were “qualified purchasers,” meaning they generally had at least $5 million in assets to invest. Another 125 were accredited investors, generally worth at least $1 million.

For Renaissance employees, the results of the firm’s maneuvers are fee-free, tax-advantaged investments and the prospect of ballooning balances in their Roth IRAs.

“The power of the Roth is really incredible,” said Robert Friedman, an attorney at Holland & Knight. “If you’re a hedge fund and you turn your dollar into $500, you’re going to get all that appreciated money tax-free.”

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