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Rochdale mutual reinsurance fund renamed, will invest in Iris Re

City National Rochdale, LLC’s insurance-linked securities (ILS) and reinsurance linked investment mutual fund is set for launch by the investment advisor. The City National Rochdale Select Strategies Fund expects to invest a significant proportion of its assets in Cartesian’s Iris Re vehicle.

City National Rochdale, LLC is a wholly owned subsidiary of City National Bank, which is in turn a wholly owned subsidiary of an entity named RBC USA Holdco Corporation, which is a wholly owned indirect subsidiary of Royal Bank of Canada.

The investment advisor filed a prospectus for an ILS and reinsurance interval mutual fund last December, the City National Rochdale Reinsurance Premium Fund, but yesterday filed a registration statement with the SEC for this differently named 1940’s Act mutual ILS fund.

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