The following is a round up of some recent news.
The following is a round up of some recent news.
Providence Life Assurance Company (Bermuda) Ltd. (“Providence”), which specializes in providing customized life insurance products to ultra-high net worth individuals to serve their wealth planning needs, announced that it has added the JP Morgan Alternative Access Fund (AAF) to its offering of investments available on its insurance dedicated funds platform. The AAF was created by the Alternatives Investment Strategy & Solutions team (“AISS”), has 10 years of experience in designing, building, and implementing diversified alternatives investment solutions. The AISS team takes an objective-driven approach to portfolio management, utilizing custom portfolio construction tools and proprietary data with on-the-ground insights as part of the team’s investment process. The AISS team takes a strategic approach to portfolio construction with the portfolio investment allocation decisions accounting for the current and expected market conditions as well as asset class specific factors.
The AISS team actively manages a core/core-plus discretionary multi-alternatives strategy designed to generate 7-9% net time-weighted returns (2-3X Multiple on Invested Capital over a 10-15 year time horizon), strong equity diversification, and stable returns with the majority of returns coming from reinvested yield. The strategy follows an active investment process in constructing and managing a diversified portfolio of core/core-plus alternatives. The strategy provides diversified exposure to over 500 high quality private alternative assets across 15+ sectors in developed markets globally. The core/core-plus alternatives strategy is designed to efficiently deploy capital into a mature portfolio of core/core-plus alternative assets with the expectation that capital will be fully invested in approximately 9-12 months. The strategy provides investors with structural liquidity, offering semi-annual redemption provisions following an initial lock-up. In targeting core/core-plus alternative investments, the AISS team endeavors to mitigate blind pool risk and has the potential to generate multiples on invested capital which are similar to illiquid opportunistic private equity-style strategies with better equity diversification, lower downside risk, and less of a cash drag.
Disclaimers: J.P. Morgan Asset Management is the brand for the asset management business of JPMorgan Chase & Co. and its affiliates worldwide. The target total return is net of fees and assumes no additional leverage at the multi-alternatives strategy level. Time-weighted return is a measure of the compound rate of growth in a portfolio which eliminates the distorting effects on growth rates created by capital addition and withdrawals. The target returns are for illustrative purposes only and are subject to significant limitations. An investor should not expect to achieve actual returns similar to the target returns shown above. Because of the inherent limitations of the target returns, potential investors should not rely on them when making a decision on whether or not to invest in the strategy.
Providence Life Assurance Company (Bermuda) Ltd. ("Providence") is pleased to announce that Gobind Sahney and Jason Sutherland will be joining Dan Gray and Jean Francois Lemay on the Board of Providence. Both Gobind and Jason are Directors of Alpha Growth plc (Alpha), which acquired 95% of Northstar Group (Bermuda) Ltd – the holding company for Providence. The share purchase transaction completed on March 22, 2021.
Alpha Growth Plc (LSE: ALGW; OTCQB: ALPGF), founded to provide dedicated advisory services in longevity assets to institutional and family office investors seeking uncorrelated returns within efficient investment structures. A highly experienced leadership team with financial, insurance, and actuarial skill sets, located in the UK and US, providing transparent asset management services.
Alpha adds to the existing strengths of Providence with its presence both in the UK and US. Building on its well- established network, Alpha has a unique position in the longevity asset services and investment business, as a listed entity with global reach, providing Providence with strong backing for delivering best of class insurance related wealth management services to its clients and stakeholders.
Providence Life Assurance Company (Bermuda) Ltd. ("Providence") is pleased to announce that it has acquired Delaware Life Insurance and Annuity Company (Bermuda) Ltd. ("DLIAC") by way of a merger effective November 30, 2020. Providence will be the surviving entity and will work with DLIAC's former parent company to effect an orderly administrative transition over the next 4 months.
This transaction is consistent with Providence's long-term strategic plan to build greater scale, largely through acquisitions, in order to gain greater operational efficiencies, risk diversification and capitalization enhancement.
As a company, Providence is committed to meeting the needs of our customers as well as those that advise them.
We are confident the high-quality service provided by DLIAC in the past will be held to the same high standard by Providence in the years to come.
Providence Life Assurance Company (Bermuda) Ltd. (“Providence”), which specializes in providing customized life insurance products to ultra-high net worth individuals to serve their wealth planning needs, announced today that it will add Requisite Capital Management Portfolio to its platform. The RCM Bespoke Portfolio seeks to achieve attractive, risk-adjusted returns through a combinationof capital appreciation and income generation investing in both public (liquid) and private (illiquid) investments. The Bespoke Portfolio is a discretionary portfolio that fully complies with the Investor Control Doctrine and Diversification Test requirements.Download RCM Bespoke Portfolio