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The asset manager is looking to hire an ILS portfolio manager.
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ILS investors lost 7 percent on average between 30 June last year and the end of April 2018, the Eurekahedge ILS Advisers index shows. -
Leadenhall Capital Partners has won a mandate to invest £80mn ($106.8mn) for the North Yorkshire Pension Fund.
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Hatteras Funds, a North Carolina-based alternative asset manager, has launched the fifth new ILS strategy this year and joins a trend of more feeder funds being set up in the asset class.
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There has been a $300mn growth for the London-based ILS manager since the start of the year alone.
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The rationale behind the investment is to reduce the fund's exposure to equities.
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Two executives, Edward Torres and Niraj Patel, are leaving the firm as it changes tack with its ILS business.
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The alternative investment specialist has set up a new interval fund to invest in quota shares and other reinsurance instruments.
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Sompo International’s chief financial officer Mike McGuire said the firm remained committed to its Blue Capital platform after deciding to put its London-listed fund into run-off this week.
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The Zurich based asset manager has grown assets under management by nearly 40 percent since January.
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ILS funds averaged a loss of 0.24 percent in March as 2017 events deteriorated.
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Two Swiss pension funds took losses of 8-9 percent from their ILS holdings following last year’s catastrophe events, but the losses have not put off new local funds entering the asset class.
