Blue Capital fund posts 1.9% NAV rise
Blue Capital Global Reinsurance Fund, the reinsurance fund managed by Montpelier Re subsidiary Blue Capital Management, has posted a 1.9 percent increase in its net asset value (NAV) for the first half of 2015.
This is stronger performance than in the first six months of 2014, when the fund posted NAV growth of 1 percent, as it benefitted from a low level of loss activity during the first half of 2015.
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."
