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SEF Entropics Cat Bond Fund Opens

The Fund commences investment operations and opens to external investors.

Stockholm, February 16th, 2015. SEF Entropics Cat Bond Fund is open to subscriptions and starts investment operations today, February 16. The Fund is the first fund specialised in Cat Bond investments managed by a Scandinavian asset manager and is the ninth Cat Bond fund globally to comply with UCITS regulations.

­– I’m happy that we are now able to offer Swedish institutional and private investors access to a new, diversifying investment class, says Robert Lindblom, CEO of Entropics. As a complement to existing traditional investment portfolios, we expect that the fund will dampen the volatility and contribute with good risk adjusted returns.

The first institutional investor in the fund is Movestic, part of the Chesnara Group (CSN:LSE). Movestic will provide their policy holders with a new source of uncorrelated and risk adjusted returns through their asset allocation funds.

– Movestic is at the forefront of developing new solutions in the pensions market, which they again prove by using Cat Bonds as a new source of uncorrelated returns, says Mr Lindblom. It is evidence of the suitability of our Fund as part of an asset allocation product.

The Fund will invest in a globally diversified portfolio of Cat Bonds, with a target return of 4-6 percent after fees. It is the first fund managed by Entropics Asset Management AB, the first Scandinavian asset manager specialised in Cat Bond investments.

The SEF Entropics Cat Bond Fund is available to institutional investors in all EU countries and is now open for subscription. Being a UCITS compliant fund, it can also be marketed on all EU retail markets, subject to a process called “passporting” and agreements with distributors. Initially, the Fund’s retail class will only be marketed in Sweden, but additional markets are under consideration. The Fund’s retail class will only be distributed through a number of selected distributors.

Fund facts

Institutional Class (I) Retail Class (A)
Asset Manager Entropics Asset Management AB
Strategy Diversified global portfolio of Cat Bonds
Fund Company Swedbank Management Company S.A.
Fund Structure SICAV
Fund Regulation UCITS
Domicile Luxembourg
Management Fee 0.66% Maximum (I) 1.40% Maximum (A)
Performance Fee 15%
Hurdle Rate SSVX90 with High Watermark
Liquidity Fortnightly
Administrator and Registrar Agent Swedbank AB (publ)
Depositary Bank and Paying Agent

Entropics Asset Management AB is Sweden's first asset manager specialized in Cat Bonds. Entropics is licensed by and under supervision of the Swedish Financial Supervisory Authority.

Cat Bonds are securities that transfer specific insurance risks from an insurer to investors. This enables the insurer to assume larger risks, such as natural catastrophe insurances, thus improving protection for home and business owners.

For investors, Cat Bonds offer an investment class with good historical risk-adjusted return, highly uncorrelated with financial markets.

Please note that historical return is no guarantee of future returns. Investments in the Fund may decrease as well as increase and you cannot be certain to have your investment returned in full.

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