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Investors in mutual insurance-linked securities (ILS) fund strategies operated by Stone Ridge Asset Management, the New York based asset manager with an alternative risk premia focus, will be delighted so far in 2023, as returns accelerate and reach over 40% year-to-date in the Stone Ridge interval ILS fund strategy.
In fact, when you consider the negative or low performing years that this ILS fund had, when it suffered from exposure to multiple major natural catastrophe events that struck the globe from 2017 through 2022, right now it looks like most of that decline has been recovered in a single year.
The Stone Ridge Asset Management Reinsurance Risk Premium Interval Fund invests across the spectrum of ILS and reinsurance-linked assets, with a particular focus on sidecars and private quota shares, other collateralized reinsurance arrangements and to a lesser degree catastrophe bonds.
As a result, the strategy is exposed to major catastrophe insurance market losses worldwide, but it also means the portfolio is now particularly well-positioned to benefit from the greatly improved reinsurance market…