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City National Rochdale ILW fund beats cat bond benchmark

The industry-loss warranty (ILW) focused mutual insurance-linked securities (ILS) fund strategy offered by investment adviser City National Rochdale (CNR) delivered a 5.95% annual return to January 31st 2022, beating its main catastrophe bond benchmark.

The positive net return of 5.95% for the year to January 31st 2022 was a little lower than the prior year, when the City National Rochdale Select Strategies (CNRLX) fund delivered a positive 6.42% net return to investors in the strategy.

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.


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