Schroders Capital has launched a new catastrophe bond fund that has been designed as an offering for US investors, raising $70 million from two clients earlier this month for the Schroders Capital Coda Fund.
The Schroders Capital Coda Fund is an insurance-linked securities (ILS) fund domiciled in the Cayman Islands that allocates capital primarily to tradable, public ILS instruments, with a focus on global natural catastrophe risks.
It’s a continued expansion of Schroders Capital’s ILS ambitions in the United States, establishing a dedicated vehicle that could prove more appealing to US institutional investors.
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