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City National Rochdale ILW mutual fund grows as losses settled

Industry loss warranty (ILW) investment focused mutual insurance-linked securities (ILS) fund, the City National Rochdale Select Strategies Fund (CNRLX), has grown in its last reported quarter while at the same time losses from the prior year appear to have been largely settled.

When we last reported on the City National Rochdale Select Strategies Fund ($CNRLX) ILW focused reinsurance and retrocession investment strategy it had relatively static net assets in its portfolio, but the valuation of many of them was distressed.

Earlier this year, the fund assets costs were reported as $44.51 million, as of April 30th 2018, but the valuation of the net assets was only reported to be $30.015 million

Now, the amount of net assets in the portfolio has grown, but more importantly the valuation is noted to be higher than the cost of the reinsurance linked investments, suggesting progress has been made in settling losses caused by the hurricanes and other catastrophe events of 2017.


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