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AXA owned asset manager Architas increases CATCo allocation again


Architas, the AXA Group owned specialist asset manager focused on multi-manager investment solutions for clients, has again increased its allocation to listed retrocessional reinsurance fund the CATCo Reinsurance Opportunities Fund Ltd.

Architas Multi Manager Ltd. has demonstrated its appetite to include the London and Bermuda stock exchange listed CATCo retro reinsurance fund, which is managed by Markel CATCo Investment Management Ltd., within its multi-manager fund offerings, steadily increasing its stake.

Architas’ investment funds range from blended and passive multi-manager strategies, to offerings which focus on specific asset classes or allow advisors to build their own portfolios.

In early 2015 Architas held 13,683,393 shares in the CATCo retro reinsurance investment fund, but that stake continued to increase it transpires.

As of July 2016 Architas held 15,022,013 shares in the CATCo Reinsurance Opportunities Fund, but in a transaction which had to be notified to the stock market Architas increased that again, acquiring another one million shares to take its stake to 16,022,013 ordinary shares. Added to the 2.9m C shares that Architas has its total stake now represents 5.04% of the fund voting rights.

The shares are ultimately held by two ICVC’s, investment companies with variable capital, also known as open-ended investment companies, owned and operated by Architas Multi-Manager Limited.

Architas has in the past held allocations to the CATCo Reinsurance Opportunities Fund in its Architas Multi-Asset Active Intermediate Income Fund and Progressive Fund, as well as a fund of funds strategy the Architas Diversified Real Assets Fund.

Architas is a prime example of a multi-asset class manager with a clear and increasing appetite for adding insurance-linked investment returns to its client offering. As more of these managers discover the reinsurance and insurance-linked securities (ILS) asset class and the benefits of low-correlated insurance-linked assets, we can expect more capital to flow into the market from these sources.

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