Plenum Investments
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The UCITS cat bond segment has added 54% in AuM since Hurricane Ian. -
Hurricane Milton’s overall impact, based on the current pre-landfall scenario, could lead to “moderate losses” for Plenum’s funds.
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The strategy invests in subordinated bonds issued by European insurers.
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The ILS manager expects “minimal, if any, losses” to bonds in its funds.
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This is lower compared to 8.2% recorded by the index in H1 2023.
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The parametric structure would have paid out at slightly lower storm pressure.
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The manager’s conservative strategy posted returns of 7.61%.
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The firm told investors yields in the cat bond market are 'still very attractive'.
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The Zurich-based ILS manager has grown the fund by around 167% from $150mn as of mid-2021.
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The 2020 bond provides $125mn of parametric, per occurrence coverage.
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The fund is on course for its strongest year of returns since inception in 2014.
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The Florida hurricane season still has three months to run in a predicted above-average year.
