Blue Capital fund posts solid NAV growth in H1

Blue Capital Global Reinsurance Fund reported solid net asset value growth in the first half of 2015.

The reinsurance fund, which is managed by Montpelier Re subsidiary Blue Capital Management, posted an NAV increase of 1.9 percent for the first half of 2015 as it benefited from a low level of loss activity during the period.

This was stronger performance than in the first six months of 2014, when the fund posted NAV growth of 1 percent.

The London Stock Exchange listed fund posted total assets of $217.2 million in the period with $213 million being invested in the master fund, compared with $187.2 million in the first half of 2014 with $179.5 million being invested in the master fund.

John Weale, chairman of the fund, said: “Looking ahead to the second half of the year, while little direct reinsurance will be bound prior to the January renewals, the investment manager will continue to look for opportunities to improve our portfolio and position us for the upcoming renewal season.

“The company is pleased with the diversified portfolio that the investment manager has created, which has attractive risk-adjusted return characteristics, consistent with the investment objectives.