Renaissance Capital - The IPO Expert
Why we are passionate about IPOs

We are passionate about initial public offerings. We chose to name our company "Renaissance Capital" because it reflects the spirit of invention and innovation that embodies today’s entrepreneurs who launch IPOs. The Renaissance was a time when much of the world was to be discovered.  It was a time of nascent capitalism, and a vigorous approach to science and the future.

We look to identify new companies developing ground-breaking products and services that transform industries and change people’s lives. History has shown that some of the greatest stock advances of all time occurred when companies were early in their development. Look at the railroad industry when it first connected America, the telephone, the computer, the Internet. Many of the companies that championed these innovations are household names today.

Renaissance Capital enables investors to profit from newly public companies that are experiencing dramatic growth, but are not yet well known or understood. Renaissance Capital fills this void by helping investors better understand this inefficient class of equities and offer ways to invest in initial public offerings (IPOs).

Every day new companies are formed. The more successful ones are able to take their companies public. While only a few IPOs will become household names like Intel, Google or Microsoft, some relatively unknown newly public companies will see startling share appreciation in their early trading days, for example:

  • Apollo Group (1994 IPO, education) – rose 1122% in 74 weeks
  • CB Richard Ellis (2004, commercial real estate) – rose 541% in 156 weeks
  • Rackspace Hosting (2008, online hosting services) – rose 488% in 46 weeks
  • Intercontinental Exchange (2005, futures & OTC exchange) – rose 341% in 110 weeks

Because these companies by definition are new, they are not well known. Making these companies even more hidden is that the investment banks that take the companies public, by SEC rules, are not allowed to issue any research on the company for a period of time after the company goes public and major indexes are slow to include IPOs. This void creates opportunities for those willing and able to do the homework.

This is where Renaissance Capital comes in. For twenty years Renaissance Capital, as a major independent research provider, has been writing pre-IPO research reports on every U.S. initial public offering. Analyzing thousands of companies is a lot of work, but worth the effort to uncover the truly exceptional companies. With our expert analysts and research database of over 5,000 IPOs, we have the experience and skills to distinguish good deals from bad. Several years ago we expanded our coverage universe to include international IPOs that do not list here in the United States. Today, as the global leader in IPO research, we serve many of the world’s largest and most active institutional IPO investors.

Over ten years ago we created a way for individual investors to invest in the IPO market by launching the first IPO Mutual Fund (the Global IPO Fund – IPOSX). Individual investors can now invest in this exciting market segment in a mutual fund managed by IPO experts. Many investors wonder how to buy IPOs. The Global IPO Fund removes the challenging process of researching each IPO by providing individuals with an easy way to invest in a portfolio of newly public companies purchased on the offering and in aftermarket trading. We also offer this strategy to institutional investors in Separately Managed Accounts.

More recently we teamed up with British indexing powerhouse FTSE Group (owned by the Financial Times of London and the London Stock Exchange) to offer the first global IPO Index Series. These IPO indices are available for license to institutions and for the creation of exchange traded funds (ETF).

The IPO Center section of our web site keeps investors up to date on all IPO events including IPO news, Wall Street’s most complete IPO calendar where investors can track the timing of upcoming IPOs and IPO pricings. Investors can track our information by:

Performance Disclosure: Past performance does not guarantee future results. The performance data quoted represents past performance and current returns may be lower or higher. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than the original cost. Investors should consider the investment objectives, risks, charges and expenses carefully before investing.

As stated in the Prospectus, the total annual operating expenses for the Fund was 3.48%. The Adviser has contractually agreed to keep net expenses from exceeding 2.50% of the Fund’s average daily net assets for at least a year from the date of the Prospectus and for an indefinite period thereafter subject to annual re-approval of the agreement by the Board of Trustees. An investor cannot invest directly in an index. Index returns do not represent Fund returns. The Index does not charge management fees or brokerage expenses, nor does the Index lend securities, and no revenues from securities lending were added to the performance shown.

Definitions: Net Asset Value (NAV) of the fund is calculated by dividing the total value of all the securities in its portfolio, less any liabilities, by the number of fund shares outstanding. Market Price is current value at which an asset or service can be bought or sold. Premium/Discount is provided to show the comparison of the daily net asset value (NAV) and the midpoint of the closing bid/ask for each of the funds. The Renaissance IPO Index® (IPOUSA) is a stock market index based upon a portfolio of U.S.-listed newly public companies that includes securities prior to their inclusion in core U.S. equity portfolios. The Renaissance International IPO Index® (IPOXUS) is a stock market index based upon a portfolio of newly public companies listed on non-U.S. exchanges. The S&P 500® Index (SPX) is a stock market index based on the market capitalizations of 500 large companies whose common stock is publicly traded on the NYSE.

Risk Disclosure: Investments in the Renaissance IPO ETF, symbol "IPO", the Renaissance International IPO ETF, symbol "IPOS" (the “ETFs”), and the Global IPO Fund, symbol "IPOSX" (the “Mutual Fund”) are subject to investment risk, including possible loss of the principal amounts invested. The ETFs and the Mutual Fund (the “Funds”) invest in companies that have recently completed initial public offerings. These stocks are unseasoned equities lacking trading history, a track record of reporting to investors and widely available research coverage which many result in extreme price volatility. Due to a greater number of IPOs in certain segments, the Funds may also be subject to information technology and financial sector risk, small and mid-capitalization company risk, and, for the Renaissance International IPO ETF, emerging markets risk. The Funds may hold securities in the form of Depository Receipts, REITs, and Partnership Units which have greater risks than common shares. The strategies have high portfolio turnover and securities lending risks. The returns of the ETFs may not match the return of the respective indices. The ETFs are classified as non-diversified investment companies subject to concentration risk.

Prospectus: Investors should consider the investment objectives, risks, charges and expenses carefully before investing. For a prospectus and/or summary prospectus with this and other information, please visit Read the prospectus carefully before investing. Renaissance Capital Investments, Inc., distributor for the Mutual Fund. Foreside Fund Services, LLC, distributor for the ETFs, 1-866-486-6645.
Attribution Policy: The information contained herein is proprietary and copyrighted. The media is welcome to use our information and ideas, provided that the following sourcing is included: IPO ETF manager Renaissance Capital.
Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital, the Renaissance IPO ETF (symbol: IPO), the Renaissance International IPO ETF (symbol: IPOS), or the Global IPO Fund (symbol: IPOSX), may have investments in securities of companies mentioned.