The industry-loss warranty (ILW) focused mutual insurance-linked securities (ILS) fund strategy offered by investment adviser City National Rochdale (CNR) has continued to grow in the last quarter of record, adding a further 7% to reach over $191 million in assets.
The City National Rochdale Select Strategies (CNRLX) fund is an interval style mutual fund that trades on an exchange and is largely invested in industry-loss warranties (ILW’s), but also holds some catastrophe bond positions as well.
Previously, the City National Rochdale Select Strategies Fund had grown its overall net assets by around 6% during the quarter to July 31st 2021, reaching just over $179 million.
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