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Home » FUNDS » ILS OCEAN FUND

FUND OBJECTIVE

The investment objective of the ILS Ocean Fund (the ‘Fund’) is to achieve capital appreciation within defined risk parameters and to consistently provide superior risk-adjusted return over time.

The Fund aims to achieve an attractive return over money market investments by investing in a globally diversified portfolio of insurance linked securities (ILS) instruments with a low correlation to fluctuations in financial markets through special purpose vehicles (SPVs) set up specifically and exclusively to hold and manage such portfolios. While the Fund’s main investment objective is to invest in one or more SPVs, the Fund’s ancillary objectives include investments in other direct ILS on an opportunistic basis.

The investment strategy of the Fund is to carry exposure to insurance risks, diversified across non-correlated insurance perils in different geographical areas through SPVs set up specifically and exclusively to hold and manage such portfolios. The Fund may hold one or more SPVs. The Fund will have maximum flexibility to invest in a wide range of sectors within the insurance industry, including but not limited to non-life, health, property, casualty, motor, marine cargo & hull, surety and other miscellaneous sectors, which provide the Fund with opportunities that potentially may not be easily accessible by other investors. While the current intention of the Investment Manager is to achieve the investment objective of the Fund by investing primarily in ILS either directly or through SPVs, in exceptional market conditions or where the Investment Manager of the Fund is of the opinion that there are insufficient investment opportunities in such investments, the Investment Manager may retain a significant portion of the Fund’s portfolio in cash and/or in liquid assets including cash equivalents, money market instruments, United States Treasuries or other government securities of any maturity.

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CHARACTERISTICS

Fund Structure
Cayman Islands registered mutual fund
Base Currency
USD (Class A shares)
ESG Classification
Article 6 (grey Fund)
Fund Administrator
Alter Domus Services (Malta) Limited
Auditors
Cohen & Co.
Valuation / Liquidity
Valuation / Liquidity
Min. Investment
USD 100,000 (additional: USD 50,000)
Redemption Notice
1 month (subject to Lock-up Period)
Lock-up Period
2 years (or such shorter period as the Directors may determine)
Dividends
No
Management Fee
2% of NAV p.a.
Performance Fee
20% of the appreciation in NAV of the share class during the Performance Period
Subscription Fee
Up to 3% of subscription amount
Redemption Fee
Up to 5% of redemption amount

DOCUMENTS

December 2022 Fact Sheet

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