Cat Bond

Overview

A strategy that invests in global catastrophe-bond-insurance-linked securities, primarily found in the Swiss Re Global Cat Bond Total Return Index.

Strategy Inception Date
June 16, 2008
Composite Inception Date
June 30, 2008
Composite AUM
(as of 07/31/2019)
$353.50 MM
Composite Benchmark
Swiss Re Cat Bond Index
Available Vehicles
Separate Account
Commingled Vehicle
Performance
Average Annual Returns
Calendar Year Returns
as of 07/31/2019
as of 06/30/2019

Cumulative
Annualized
ytd as of 2019-06-30
1 yr 3 yr 5 yr 10 yr since inception
Cat Bond (gross of fees)
1.41% -0.17% 0.48% 2.32% 4.99% 4.62%
Cat Bond (net of fees)
0.66% -1.66% -1.00% 0.82% 3.47% 3.10%
Swiss Re Cat Bond Index
- - - - - -
Cumulative
Annualized
ytd as of 2019-07-31
1 yr 3 yr 5 yr 10 yr since inception
Cat Bond (gross of fees)
2.25% -0.29% 0.50% 2.37% 4.97% 4.66%
Cat Bond (net of fees)
1.36% -1.78% -0.97% 0.88% 3.45% 3.14%
Swiss Re Cat Bond Index
- - - - - -

The Composite Benchmark , Merrill Lynch® 3-Month LIBOR Index/ Swiss Re Global Cat Bond Total Return Index returns are available on the Quarterly Fact Sheet.


Year Cat Bond (gross of fees) Cat Bond (net of fees) Swiss Re Cat Bond Index
2009 5.28% 3.76% 0.99%
2010 10.84% 9.26% 0.34%
2011 0.66% -0.81% 0.27%
2012 10.00% 8.43% 0.51%
2013 12.28% 10.69% -
2014 5.99% 4.46% -
2015 3.72% 2.20% -
2016 7.37% 5.83% -
2017 -4.34% -5.74% -
2018 0.28% -1.21% -

The Composite Benchmark , Merrill Lynch® 3-Month LIBOR Index/ Swiss Re Global Cat Bond Total Return Index returns are available on the Quarterly Fact Sheet.

Analytics
(As of 07/31/2019)

Portfolio Characteristics
Rep Portfolio
Composite Benchmark
Yield to Maturity
28.12%
-
Yield to Worst
28.12%
-
Average Coupon
7.01%
-
Effective Coupon
0.00%
-
Team

    The Composite gross-of-fee returns reflect the reinvestment of income and the impact of transaction costs, but do not include the deduction of investment advisory fees, distribution expenses or any other account expenses, such as custodial fees. Composite net-of-fee returns are calculated by deducting a model investment advisory fee (using the maximum investment advisory fee as determined by the product’s commingled vehicle fee schedule) from the Composite gross-of-fee returns. Annual fees for the Cat Bond commingled vehicle(s) are 1.50% on the first $5 million under management, 1.25% on the next $5 million, 1.10% on the next $15 million, 0.95% on the next $25 million,  and 0.75% on any additional amount. Annual fees for the Cat Bond separate accounts are 1.00% of the market value of assets under management. Actual fees may vary depending on, among other things, the vehicle type, applicable fee schedule and portfolio size. While actual portfolios incur transaction expenses, pay investment advisory fees, and may incur other account expenses, the benchmark index is shown without the impact of such charges.

    Fixed income investing entails credit and interest rate risks. When interest rates rise, bond prices generally fall. Event-linked securities otherwise known as Cat Bonds are fixed income securities for which the return of principal and interest payment is contingent on the non-occurrence of a trigger event that leads to physical or economic loss. If the trigger event occurs prior to maturity, event-linked securities may lose all or a portion of its principal and additional interest.  Diversification does not guarantee profit or protect against loss.

×
Loading...
Tiny Button Small Button Large Button Default Button Secondary Button Framed Button Framed Button ( Small Caps )