Hedge fund manager Fermat Capital Management is voicing strong opposition to a European proposal that could limit retail investors’ access to catastrophe bonds, as the firm and other managers coordinate a response to protect the $60bn market, according to a report by the Insurance Journal.
John Seo, co-founder and managing director of Fermat, said the EU plan – originating from the European Securities and Markets Authority (ESMA) – would represent an “unprecedented” intervention in UCITS funds,...
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