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28 Sep 2021 - Performance Report: Laureola Australia Feeder Fund

By: Australian Fund Monitors

Report Date28 September 2021
ManagerLaureola Advisors
Fund NameLaureola Australia Feeder Fund
StrategyLife Settlements
Latest Return DateAugust 2021
Latest Return2.13%
Latest 6 Months3.91%
Latest 12 Months6.27%
Latest 24 Months (pa)8.54%
Annualised Since Inception15.55%
Inception Date01 May 2013
FUM (millions)US$70
Fund OverviewThe Laureola Investment Fund's strategy is to provide investors with exposure to the returns of life settlements in a risk mitigated manner.

Life Settlements are resold life insurance policies and can be thought of as a form of finance extended to an individual backed by the person's life insurance policy. This financing is repaid upon maturity by collecting the death benefit from the insurance company.

Risk mitigation measures implemented by Laureola include science-driven due diligence of policies, active monitoring of insured through a vertically integrated operation, and investor aligned fund design.
Manager CommentsThe Laureola (Bermuda Feeder) Fund was up 2.1% for the month and is now up 4.3% ytd. The Fund experienced 5 maturities in August including two with a face value above the Fund's average face value. The Fund has experienced 20 maturities so far this year for a total of $10.65 ml.

Laureola noted they're very happy with that result given the Fund's size. The average size of the matured policies ytd is about $500k, 2/3rds the average size of the policies in the portfolio, which has had a small negative effect on performance. But, they noted, the number of policies is a strong indication that the portfolio is being managed properly, and also indicates that it is not due to luck or randomness. It highlights the quality of the posted returns: 75% of the total returns for the year have come from realised gains.
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