The hedge fund bet luring retail investors to high-risk bonds

A flooded street running parallel with the River Neckar in Heidelberg, Germany, on June 3.Photographer: Alex Kraus/Bloomberg

LONDON: There was a time when investing in catastrophe bonds was the preserve of hedge funds and other sophisticated alternative asset managers.

But after underpinning the best hedge fund strategy of 2023, the bonds are finding a wider audience.