So investiert der Fermat UCITS Cat Bond Fund Institutional EUR Accumulation Fonds: The Fund’s primary investment objective is to seek to generate returns through selective investment in a global portfolio of catastrophe bonds (“CAT Bonds”). CAT Bonds are debt securities that transfer the risk of catastrophic events from insurance companies, reinsurance companies, corporations, governments, etc. to the capital markets. Investors receive a risk premium in the form of a yield in exchange for bearing the risk of losses from pre-defined natural and non-natural catastrophic events, such as earthquakes or windstorms, mortality, cyber and other catastrophe related events.