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City National Rochdale ILW fund hits $179m, shares trade higher post-Ida

The industry-loss warranty (ILW) focused mutual fund strategy offered by investment adviser City National Rochdale (CNR) increased its net assets during the last quarter of record and the share price of the exchange traded fund (ETF) has been rising over recent weeks.

The fund, which is largely invested in industry-loss warranties (ILW’s) and also holds some catastrophe bond positions, grew its overall net assets by around 6% during the quarter to July 31st 2021, reaching just over $179 million.

But its share price performance over recent weeks is a point of differentiation, as the price has risen and seemingly not experienced any significant negative movements even after recent major catastrophe loss events, although it did dip very slightly right after hurricane Ida struck but then recovered very strongly.


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