Schroders launches ILS fund

Schroders Capital, part of global asset manager Schroders PLC, Wednesday said it has launched Schroders Capital Coda Fund, an insurance-linked securities fund.

The Cayman-domiciled fund will invest primarily in tradable, public ILS instruments with a focus on global natural catastrophe risks. It was launched in early June with two clients committing a combined total of $70 million, a Schroders statement said.

The Coda Fund will be managed by Daniel Ineichen as lead portfolio manager and is aimed at U.S. investors. It is an actively managed fund with twice-monthly liquidity, the statement said.

Stephan Ruoff, global head of ILS for Schroders Capital, said in the statement the fund “reinforces our commitment to expanding Schroders Capital’s ILS capabilities.”