Twelve Capital Event Update

In the Atlantic, Hurricane Ernesto has intensified becoming the third hurricane of the Atlantic season. The storm is currently moving northward from the Greater Antilles through the Atlantic Ocean. Whilst there remains still significant uncertainty with respect to future trajectory and strength of the storm, it does appear the main risk is associated with a potential Bermuda landfall occurring over the weekend, with the storm possibly reaching Category 2 or 3. Based on current forecasts, we do not expect any impact to our investments.

In the Pacific, Typhoon Ampil is currently located just over 200km south of Japan as a Category 2 storm. However, models suggest possible intensification up to Category 4 over the coming days. Although recent forecasts have shifted the storm slightly eastward, away from Tokyo, the risk of significant damage from strong winds and flooding remains elevated. We keep monitoring the storm and we will issue a more detailed event report if it develops more severely than currently anticipated.

Twelve Capital continues to closely monitor relevant potential and actual catastrophe events and will issue specific updates on new major events that occur.