Renn switches to Entrepreneurs to reflect global remit

Premier changes fund name from Renn US Growth to Entrepreneurs to reflect global focus of manager Russell Cleveland, with half now in China

Premier is changing the name of its $29m Renn US Emerging Growth fund later this year to reflect its global remit. The change has already been approved by shareholders and the fund will become Renn Entrepreneurs in the second half of this year. The vehicle is Guernsey-domiciled and outsourced to Texas-based Russell Cleveland from Renaissance Capital Group. Typically, the US market is not the fund's main focus, although it is run from America. It has a large proportion of its assets in China, around 51%, and 27% in the US and Canada. Typically, it also has a large cash position to ...