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CatCo Reinsurance Opportunities Fund (CATC) USD0.0001 C

Sell:$0.52 Buy:$0.58 0 Change: No change
Market closed Prices as at close on 29 July 2021 Prices delayed by at least 15 minutes | Switch to live prices |
Sell:$0.52
Buy:$0.58
Change: No change
Market closed Prices as at close on 29 July 2021 Prices delayed by at least 15 minutes | Switch to live prices |
Sell:$0.52
Buy:$0.58
Change: No change
Market closed Prices as at close on 29 July 2021 Prices delayed by at least 15 minutes | Switch to live prices |
The selling price currently displayed is higher than the buying price. This can occur temporarily for a variety of reasons; shortly before the market opens, after the market closes or because of extraordinary price volatility during the trading day.

Objective

The company is organised as a feeder fund to invest substantially all of its assets in the CATCo Diversified Fund (the Master Fund). The Master Fund is a segregated account of CATCo Reinsurance Fund Ltd. (the Master Fund SAC), a newly established mutual fund company of unlimited duration incorporated in Bermuda. The objective of the Master Fund to give their shareholders the opportunity to participate in the returns from investments linked to catastrophe reinsurance risks, principally by investing in fully collateralised Reinsurance Agreements accessed by investments in Preference Shares of Markel CATCo Re Ltd. (the Reinsurer). The company targets an internal rate of return in excess of LIBOR plus 12% to 15% p.a. on the issue price of its Ords.

Top 10 holdings currently unavailable.

Top 10 sectors currently unavailable.

Top 10 countries currently unavailable.

Fee Structure

Management fee of 0.75% p.a. of NAV of the Master Fund and a performance fee of 10% of gains, subject to a high water mark methodology and provided that a certain level of performance is met.

Dividend Policy

The Directors are targeting distributions on C Shares which have not converted into Ords by the end of a Fiscal Year by way of dividend in respect of such Fiscal Year of an amount equal to LIBOR plus 5% of the NAV per C Share at the end of each Fiscal Year. No distributions will be made on C Shares which are yet to be invested in accordance with the investment policy,

ASSET SPLIT

Total number of holdings: 0.

Trust Manager

Tony Belisle

Manager Bio

Mr. Belisle has over 25 years of insurance and investment experience, starting with Sun Financial Group (erstwhile Sun Life of Canada) and then tenures with Goldman Sachs & Co., Citadel Investment Group, Fidelity Investments Deutsche Bank, and lastly with Oxygen Insurance Brokers. During his tenure has been credited with pioneering several unique structures within the reinsurance industry especially in areas of catastrophic risk that have included the collateralized reinsurance approach and associated set of contracts. Tony is an actuary and a fellow (FSA) of the North American Society of Actuaries. He graduated with a Bachelor of Arts in Mathematics from the University of New Hampshire

Board Of Directors

James KeyesChairman, Margaret Gadow, Arthur Jones

Data policy - All information should be used for indicative purposes only. You should independently check data before making any investment decision. HL cannot guarantee that the data is accurate or complete, and accepts no responsibility for how it may be used. Objective, holding data, trust manager and bio information, dividend policy, asset split and fee structure are provided by Morningstar.

Share

The London Stock Exchange does not disclose whether a trade is a buy or a sell so this data is estimated based on the trade price received and the LSE-quoted mid-price at the point the trade is placed. It should only be considered an indication and not a recommendation.

Trades priced above the mid-price at the time the trade is placed are labelled as a buy; those priced below the mid-price are sells; and those priced close to the mid-price or declared late are labelled 'N/A'.