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(Alliance News) - CATCo Reinsurance Opportunities Fund Ltd on Tuesday reported a first-half net asset value fall which the fund attributed to a return of capital to its shareholders.
Net assets at June 30 were down by a third annually at USD258.5 million from USD387.2 million. Net assets were down 16% from USD306.9 million at the end of 2019.
CATCo offers exposure to returns from investments linked to catastrophe reinsurance risks.
"The reduction of the net asset value is due to the returns of capital to shareholders in 2020 of a total of USD48.1 million," CATCo said.
NAV per share was "stable", the company noted, up 0.1% at USD0.2662 from USD0.2659 on January 1.
Shares in the company were untraded in London on Tuesday morning, last quoted at USD0.19 each.
By Eric Cunha; ericcunha@alliancenews.com
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