Twelve Capital to focus on own ILS funds in Europe following 'strong investor demand'

Twelve Capital, an independent investment manager specialising in insurance with approximately $4 billion in assets under management, is expanding its product range for insurance-linked securities (ILS) investors, including cat bonds, collateralised reinsurance and multi-asset offering, across its target markets in Europe.

The company said it will now focus on expanding its distribution and product capabilities under its own branded UCITS, SIF and Single Investor platforms. From August 2019, Twelve Capital will cease to be the investment manager for two Falcon Cat Bond funds, that it has managed for over six years.

The company launched its Irish UCITS Cat Bond offering in February 2018 to focus on direct fundraising from institutional investors across Europe. The fund has reached AUM in excess of $200 million in the 15 months. Twelve Capital expects the fund to grow further over the next weeks on the back of "strong investor demand and good performance" on a risk-adjusted basis.

Additionally, the Luxembourg UCITS Best Ideas offering, which is a multi-asset fund exploiting the seasonality of US hurricanes, has reached assets of approx. $170 million and a three-year track record.

Urs Ramseier, CEO and CIO of Twelve Capital, said: “Twelve Capital’s business strategy has evolved over the last five years towards managing its own institutional ILS and Multi-Asset offering with its own branded UCITS, SIF and Single Investor platforms.

"As at June 2019, Twelve Capital has offerings in Switzerland, Germany, France, Benelux, the Nordics and the UK, with further markets being developed.”

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