AuM data
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There will be no change to the running of the ILS fund Merion Square or its strategy, managing partner Richard Pennay told Trading Risk.
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The manager gained approval from a majority of investors in its Guernsey-listed Securis I fund to implement side pocket shares. -
Research by the broker shows the ILS industry contracted by $4bn in the first quarter to $93bn, with $15bn of capital still trapped.
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Fosun said Tenax Capital will become one of its most important European asset management platforms.
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Investors sought to redeem about $200mn in 2019 from the shrinking Securis I fund, but the London manager has grown its lower-risk non-life fund.
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Winners were recognised at the 11th Trading Risk Awards ceremony, held in London last night.
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The Zurich-based fund manager will no longer manage two Falcon cat bond funds.
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Zurich-based Solidum Partners will oversee the two funds, estimated to be worth $400mn, from 1 August.
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Firming market an opportunity for the growing ILS fund, according to the analysts.
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Ultimately, with advantages and challenges in any ownership situation, the parentage of an ILS platform is not going to be the determining factor in its success.
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The industry’s market heavyweights remain split amongst different types of ownership models.
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The firm will invest $50mn in Elementum’s ILS funds.
