Secondary perils — mostly in the form of destructive thunderstorms — aren't being consistently captured by models designed to measure cat bond risk, according to fund managers monitoring the development. Credit: cherylvb/Adobe Stock Secondary perils — mostly in the form of destructive thunderstorms — aren't being consistently captured by models designed to measure cat bond risk, according to fund managers monitoring the development. Credit: cherylvb/Adobe Stock

(Bloomberg) — As the best hedge fund strategy of 2023 becomes a magnet for mainstream investors, the risk models it relies on are getting a lot tougher to crack.

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