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Net assets rise for City National Rochdale ILS fund, but portfolio doesn’t

Total net assets appear to have risen at industry loss warranty (ILW) focused mutual insurance-linked securities (ILS) fund the City National Rochdale Select Strategies Fund (CNRLX) in the last quarterly report, but at the same time the value of investments in the portfolio was almost static.

The City National Rochdale Select Strategies Fund, which is an interval structured mutual ILS fund run by Royal Bank of Canada subsidiary City National Rochdale, LLC, reported its total net assets as $34.2 million as of January 31st 2018.

That figure had risen to $44.51 million, as of April 30th 2018, likely helped by inflows from investors sourced through the registered investment advisers the mutual fund manager works with.


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