After positioning itself in advance of the US hurricane season through Q2 this year, the City National Rochdale Select Strategies Fund, a US mutual insurance-linked securities (ILS) fund that invests in industry-loss warranties (ILW’s) and industry-index trigger catastrophe bonds, was relatively flat in AUM terms.
When we last covered this 40’s Act US mutual fund strategy, the ILW and index-trigger focused offering had grown slightly to approximately $227.4 million of net assets, as of April 30th this year.
It remains one of the more unique investment opportunities in ILS and especially in registered funds, being the only mutual ILS investment fund that has a specific focus on index-trigger instruments, from ILW’s to industry-loss cat bonds.
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