AuM data
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ILS returned 3.2% for the scheme in the first quarter. -
The platform’s ILS holdings comprise cat bonds and UCITs funds, and were up 8% over January and February.
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Fee income was up by 30% year-over-year to $136mn in 2023.
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The fund will follow an existing Twelve strategy and add short-term corporate bonds.
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Chris Parry said the denominator effect remains a suppressant on ILS inflows after a strong phase of returns.
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Daniel Ineichen and Flavio Matter have been promoted to co-heads of ILS.
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It is only the second year in the last eight that the allocation grew.
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CEO Hussain said third-party capital in 2023 remained flat.
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The firm’s assets under management dropped to $1.6bn, as a capital return more than offset new inflows.
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Head of alternatives Gareth Abley believes the asset class remains attractive following a 16% return in 2023.
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The outlook for M&A activity is brighter after 2023 returns.
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The parent also expects the ILS platform’s AuM to grow.
