{"id":466,"date":"2025-03-25T12:00:06","date_gmt":"2025-03-25T13:00:06","guid":{"rendered":"http:\/\/alteredconcept.com\/?p=466"},"modified":"2025-03-28T11:54:15","modified_gmt":"2025-03-28T11:54:15","slug":"ambassador-mutual-cat-bond-fund-grows-to-428m-more-ilw-investments-made","status":"publish","type":"post","link":"http:\/\/alteredconcept.com\/index.php\/2025\/03\/25\/ambassador-mutual-cat-bond-fund-grows-to-428m-more-ilw-investments-made\/","title":{"rendered":"Ambassador mutual cat bond fund grows to $428m, more ILW investments made"},"content":{"rendered":"

This content is copyright to www.artemis.bm<\/a> and should not appear anywhere else, or an infringement has occurred.<\/p>\n

The Ambassador US mutual catastrophe bond fund strategy operated by advisor Embassy Asset Management has now expanded its insurance-linked securities (ILS) fund\u2019s assets under management to $428 million, with expansion across the portfolio and more industry-loss warranty (ILW) investments made as well.
\n<\/span>
\n\"embassy-ambassador-fund-cat-bonds\"The Ambassador cat bond fund was launched in the third-quarter of 2021 by investment advisor Embassy, which has a focus on non-correlated strategies that deliver income to its clients<\/a>.<\/p>\n

With a dedicated catastrophe bond and insurance-linked securities (ILS) investment focus, Embassy was the newest entrant to the US mutual ILS fund marketplace at the time.<\/p>\n

The strategy began\u00a0allocating capital to catastrophe bonds in the quarter to April 30th of 2023, while also entering into its first private ILW arrangement under the Consulate Re structure<\/a>.<\/p>\n

After that, the Ambassador Fund benefited from growing investor interest and took more inflows into its catastrophe bond focused strategy through 2023 and 2024.<\/p>\n

We last reported on this largely cat bond focused fund when it surpassed $329 million in assets under management (AUM) in October 2024<\/a>.<\/p>\n

Now, as of its last formal reporting of data for January 31st 2025, the Ambassador Fund\u2019s total assets under management had reached almost $418 million.<\/p>\n

Which is a more than doubling in size in one year, as the Ambassador cat bond fund had only $164 million in total net assets at January 31st 2024., representing impressive 155% growth in just twelve months.<\/p>\n

We understand though, that the fund has continued to grow in recent weeks as well, reaching $428 million in net assets as of the end of February 2025.<\/p>\n

The one-year rolling return appears to be running at around 11.67% as of the end of February, however like many cat bond funds the year-to-date appears more muted due to some price effects likely caused by the California wildfire impacts to certain positions, which has reduced the 12-month return.<\/p>\n

In the last full-year of performance, to October 31st 2024, the Ambassador cat bond fund achieved a 13.5% return.<\/p>\n

As of January 31st 2025, the Ambassador Fund counted $330.3 million of catastrophe bonds within its portfolio, while the preferred note investments into industry-loss warranty (ILW) contracts under Consulate Re amounted to just over $59 million, with the rest of the net assets comprised of short-term investments.<\/p>\n

The Consulate Re private investments into ILW\u2019s are a way for the Ambassador portfolio management team to source additional investments, then transform them to a structure suited to a mutual ILS fund strategy.<\/p>\n

As we understand it, they are all transformed and securitized industry-loss warranties (ILW) arrangements and now, as of the January 31st reporting, the Ambassador Fund portfolio has 10 Consulate Re positions, 7 of which are 2025 series and so more recently invested in, it appears.<\/p>\n

Ambassador mutual cat bond fund grows to $428m, more ILW investments made<\/a> was published by: www.Artemis.bm<\/a>
\nOur catastrophe bond deal directory<\/a>
\nSign up for our free weekly email newsletter here<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

This content is copyright to www.artemis.bm and should not appear anywhere else, or an infringement…<\/p>\n","protected":false},"author":1,"featured_media":468,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[15],"tags":[],"_links":{"self":[{"href":"http:\/\/alteredconcept.com\/index.php\/wp-json\/wp\/v2\/posts\/466"}],"collection":[{"href":"http:\/\/alteredconcept.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/alteredconcept.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/alteredconcept.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/alteredconcept.com\/index.php\/wp-json\/wp\/v2\/comments?post=466"}],"version-history":[{"count":2,"href":"http:\/\/alteredconcept.com\/index.php\/wp-json\/wp\/v2\/posts\/466\/revisions"}],"predecessor-version":[{"id":469,"href":"http:\/\/alteredconcept.com\/index.php\/wp-json\/wp\/v2\/posts\/466\/revisions\/469"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/alteredconcept.com\/index.php\/wp-json\/wp\/v2\/media\/468"}],"wp:attachment":[{"href":"http:\/\/alteredconcept.com\/index.php\/wp-json\/wp\/v2\/media?parent=466"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/alteredconcept.com\/index.php\/wp-json\/wp\/v2\/categories?post=466"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/alteredconcept.com\/index.php\/wp-json\/wp\/v2\/tags?post=466"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}