REG - CATCo Re-ins Opps Fd - Net Asset Value(s) & Management Fee Reduction

CATCo Reinsurance Opportunities FundAnnouncement

28/01/2021 07:00

RNS Number : 1310N
  
CATCo Reinsurance Opps Fund Ltd
  
28 January 2021
  
 

FOR IMMEDIATE RELEASE
 
 
28 January 2021
CATCo Reinsurance Opportunities Fund Ltd. (the "Company")
Net Asset Value and Management Fee Reduction
 
 
To: SFS, London Stock Exchange and Bermuda Stock Exchange



December 2020 Net Asset Values
Markel CATCo Investment Management Ltd., the Company's Investment Manager, announces the unaudited Net Asset Value ("NAV") of the Company's Ordinary Shares and C Shares of $0.2828 and $0.5071 respectively, as at the close of business on 31 December 2020.
 
The c.7% increase during December 2020 in the Company's Ordinary Share NAV reflects a reduction in claims associated with the 2017 California wildfires.
 
Management Fee Reduction
The Investment Manager has agreed to maintain the reduced Management Fee on Side Pocket Investments for the financial year 2021 by 50 per cent of the original fee of 1.5 per cent. This is equal to an annual Management Fee of 0.75 per cent. The Management Fee on Side Pocket Investments will be reviewed again at the end of the current financial year.
 
 



For further information:








Markel CATCo Investment Management Ltd.
 
Judith Wynne
General Counsel
Telephone: +1 441 493 9005
Email: judith.wynne@markelcatco.com
 
Mark Way
Chief of Investor Marketing
Telephone: +1 441 493 9001
Email: mark.way@markelcatco.com


Numis Securities Limited
 
David Benda / Hugh Jonathan
Telephone: +44 (0) 20 7260 1000



 

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