In its first two years of operation, the City National Rochdale Select Strategies Fund which has been launched as a U.S. 1940’s Act mutual insurance and reinsurance linked securities fund by a subsidiary of the Royal Bank of Canada, will target raising ILS assets under management of $500 million in its first two years of operations.
The City National Rochdale Select Strategies Fund was registered with the SEC earlier this year, targeting a largely industry loss warranty (ILW) driven reinsurance linked investment strategy, it had initially been registered as the City National Rochdale Reinsurance Premium Fund but was renamed.
The investment manager behind the fund is City National Rochdale, LLC, an indirect subsidiary of the Royal Bank of Canada and we understand that the initial capital raising is now underway.
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