Blue Capital to change name of listed ILS fund

by Artemis on May 16, 2017

Blue Capital Management Ltd., the now Sompo Holdings owned specialist insurance and reinsurance investment manager, has had a motion approved by its shareholders which will see its stock exchange listed ILS fund renamed from the Blue Capital Global Reinsurance Fund Limited to the Blue Capital Alternative Income Fund Limited.

The ILS investment manager had proposed the name change earlier this year and the motion was voted on by shareholders at its recent annual general meeting.

The Directors of the Blue Capital Global Reinsurance Fund, which is listed and available to investors via the London and Bermuda stock exchanges, had consulted with the ILS manager and decided that a name change would assist in promoting the reinsurance linked investment fund.

The decision to change the name was taken so as to better reflect the relatively uncorrelated nature of ILS and reinsurance returns compared to other asset classes and to emphasise the dividend component of the return, which the Directors of the fund believe to be attractive.

At the recent AGM a majority of the shareholders voted in favour of the name change.

Given the listed ILS and reinsurance funds like this one are targeted at a more high-net worth retail type of investor base, rather than purely institutional, the new name will likely resonate better and perhaps assist with marketing of the Blue Capital fund to new investors.

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