Yesterday Japan was shaken by a strong aftershock with a magnitude of 7.1, which caused only minor damages. This event has no impact on the Japanese quake exposed bond held by the Plenum CAT Bond Fund. As the epicenter of the quake was outside of the specified region around Tokyo’s metropolitan area, the first position, a bond called Midori, is clearly not affected. The second position in the fund, called Valais, is exposed to the incurred losses of the sponsor, Flagstone Re. Since only minor damages were caused by this event, the position will not be affected either.