Twelve Capital, an independent investment manager specialising in insurance investments for institutional clients with approximately $4 billion in assets under management, is expanding its product range for ILS investors.
Twelve Capital, which has offices in Zurich and London, has historically managed several white label cat bond strategies for private banks in Switzerland. Now it is developing its own range of products under its own brand, in cat bonds and collateralised reinsurance, as well as in its multi-asset best ideas strategy. It will distribute these in its core markets of Switzerland, Germany, France, Benelux, the Nordics and the UK, and is developing its presence in other markets.
The fund manager already has an Irish UCITS cat bond offering that focuses on direct fundraising from institutional investors across Europe which has raised more than $200 million since launching in February 2018. It also has a Luxembourg UCITS best ideas offering, a multi-asset fund exploiting the seasonality of US hurricanes, which has raised around $170 million in three years of trading.
As part of this strategic shift, Twelve Capital will also cease acting as investment manager for two Falcon cat bond funds, effective August 1, after managing the funds for more than six years.
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.”