Man Group, a worldwide impartial various and lively funding administration agency, has made an software to determine a UCITS disaster bond fund beneath its Man AHL model, Artemis has realized from sources.
Man Group already invests in disaster bonds throughout various funding funds beneath its Man AHL arm, the unit that has a give attention to systematic methods to ship diversification in addition to returns to traders.
The corporate has a devoted disaster bond fund technique, the AHL Cat Bond Programme, which follows a long-only systematic strategy to offer traders with publicity to insurance coverage danger premia by means of tradable insurance coverage property, so usually 144A cat bonds.
Man AHL has its major cat bond fund technique domiciled within the Cayman Islands, we consider, however now perceive the funding supervisor is within the means of making use of for authorisation to launch a UCITS cat bond fund as properly.
We’re advised by sources that an software is now in with the regulator in Eire, to authorise this Man AHL UCITS cat bond fund technique, so it may be established and start working.
Man has numerous UCITS funding funds authorised in Eire already, however we perceive this new authorisation software would be the first UCITS technique from the supervisor to have a cat bond funding focus.
AHL Companions LLP is registered in Eire in its place funding fund supervisor, working in Eire or offering providers on a cross-border foundation, whereas Man Asset Administration (Eire) Restricted is registered as a UCITS administration firm, that means the asset supervisor has a lot of the infrastructure required already in place.
Being early within the course of, at this stage no additional particular particulars on this Man AHL UCITS cat bond fund technique can be found.
Launching a UCITS cat bond fund technique will assist to open up the Man AHL cat bond funding technique to a broader and extra differentiated vary of traders, whereas enabling the brand new UCITS fund to be supplied extra broadly inside Europe as properly.
Presently, there are 16 UCITS disaster bond fund methods, which across the group had just over $13.8 billion in cat bond assets under management as of the end of 2024.
One different UCITS cat bond fund technique can also be within the works and anticipated to launch comparatively quickly, the RenaissanceRe Medici UCITS Fund which was authorised by the regulator in Ireland last November, but has yet to be opened to investors.
