Twelve Capital Event Update

Extra-tropical cyclone Lee made landfall near Long Island, Nova Scotia, Canada midday (local time) on 16 September. It was a particularly large storm, with its impact being felt hundreds of miles away, generating storm surge and high winds along most of the New England and Eastern Canadian coasts. Lee will continue to dissipate as it heads back out into the ocean, Twelve Capital does not expect any impact on its portfolio positions from this event.

Margot is now a post-tropical cyclone and continues to stay out in the ocean, dissipating over the coming days. Tropical Storm Nigel looks to strengthen into a hurricane at some point during Monday, but it is currently in the middle of the Atlantic and predicted to stay there curving to the east where it is likely to head towards the UK and France. Given that it is around a week away from making it to Europe, it is still uncertain but it could bring high winds.