RENN Fund, Inc. (NYSE: RCG)
Horizon Kinetics Asset Management LLC (“Horizon”) is the investment adviser to the RENN Fund, Inc.
The Fund seeks to provide shareholders with above-market rates of return through capital appreciation and income through investments in a wide variety of financial instruments, including but not limited to common stocks, fixed income securities including convertible and non-convertible debt securities or loans, distressed debt, warrants and preferred stock, exchange traded funds and exchange traded notes, and other instruments and securities which may or may not be listed on a regulated exchange. The Fund may also engage in short sales of stocks, exchange traded funds and exchange traded notes, including both leveraged and unleveraged. The Fund invests in companies which Horizon believes are undervalued and which have the potential to achieve a high rate of return.
The Fund executes its investment strategy by regarding investments as fractional ownership in the underlying companies’ assets. This allows the Fund to attempt to achieve its investment objective by acting as a classic value investor seeking high returns on equity, an intrinsic characteristic of the investment, not a reappraisal of a company’s stock value by the market, an external factor.
|Total Assets||$10.1 Million (as of 6/30/2020)|
|New Management Start Date (Horizon Kinetics Asset Management)||07/06/2017|
|Expense Ratio||2.03% (as of 12/31/2019)|
2The premium/discount is calculated as (most recent price/most recent NAV) -1.
You should consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. The Fund is a registered, non-diversified, closed-end management investment company under the Investment Company Act of 1940, as amended. Closed-end fund shares are not redeemable, but instead are traded in the secondary market and frequently trade at a discount to net asset value. Shares of the Fund are also subject to market risks of investing in the underlying portfolio securities held by the Fund. There are risks inherent in an investment, including the possible loss of principal. There can be no assurance the objectives of the Fund will be achieved, and past performance is no guarantee of future results.
The material contained on this website is not intended to be a recommendation or investment advice, does not constitute a solicitation to buy or sell securities, and is not provided in a fiduciary capacity. The information provided does not take into account the specific objectives or circumstances of any particular investor, or suggest any specific course of action. Investment decisions should be made based on an investor’s objectives and circumstances and in consultation with his or her advisers. The information on this web site is intended for U.S. residents only. The information provided does not constitute a solicitation of an offer to buy, or an offer to sell securities in any jurisdiction to any person to whom it is not lawful to make such an offer.
On July 6, 2017, Horizon Kinetics Asset Management LLC (f/k/a Horizon Asset Management LLC) (“Horizon”) was approved as the investment manager of the Fund. Statistics that rely on Fund data prior to that date will reflect the Fund’s prior manager. Horizon is an investment adviser registered with the U.S. Securities and Exchange Commission (“SEC”), and a wholly owned subsidiary of Horizon Kinetics LLC (“Horizon Kinetics”). In addition to serving as the investment adviser to the RENN Fund, Inc., Horizon manages other investment products, including open-end funds, separate accounts and private funds, and is sub-adviser to other mutual funds.
Fund shares are not guaranteed or endorsed by any bank or other insured depository institution, and are not federally insured by the Federal Deposit Insurance Corporation. Market price and net asset value (NAV) of a Fund’s shares will fluctuate with market conditions. Current performance may be higher or lower than the performance shown. Fund data is updated daily, monthly and quarterly, depending on the specific data point. For further information, please contact us at firstname.lastname@example.org or 646-495-7333.
|Net Asset Value||$1.64|
Closing Price on 8/7/2020