Cat bond funds start to scratch back Hurricane Ian losses
Pure-play cat bond investment funds began to scratch back losses sustained on Hurricane Ian in the week through October 28 after having shown signs of stabilization in the week prior.
The Plenum Investments weekly index for dollar-denominated cat bond funds rose 0.4% for the week and is now down 4.8% YTD and 6.2% from the YTD high reading hit on the Friday prior to Ian's Florida landfall.
Subindexes for euro- and Swiss franc-denominated fund series both rose at a slightly lower 0.3% weekly pace and have deeper losses vis-a-vis pre-Ian readings at 6.5% and 7.0% respectively.
The broad index reading had avoided decline for nine-weeks prior to the Ian landfall to render a YTD high on the Friday, September 23 reading, just five days ahead of Ian's Florida landfall.
Plenum has crafted a series of investment fund total return performance indexes from a group of 15 pure-play cat bond UCITS investment funds. Sub-indexes divvy up results by currency unit class and a classification of risk profile subject to semi-annual review.
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