Stockholm (HedgeNordic) – Economist Hafsteinn Hauksson has been appointed co-investment advisor of Gamma Icelandic Macro Fund and Gamma Icelandic Opportunity Fund, the two hedge funds run by Icelandic wealth manager Gamma Capital Management. Mr Hauksson, who already works out of GCM’s London office since early this year, will assist Gisli Hauksson, Gamma chairman and London CEO, in managing the fund’s investment strategies.
Mr Hauksson (pictured), a graduate of LSE in finance and economics, came to Gamma from global sovereign advisory Newstate Partners, having previously served as an economist with Arion Bank Research in Reykjavik, where he was a leading commentator on the Icelandic economy and produced substantive market research.
In other Gamma news, Gamma Icelandic Macro Fund and Gamma Iceland Opportunity Fund both enjoyed stellar performances in April. Gamma Icelandic Macro Fund, which invests primarily in government-backed fixed income instruments, returned +4.0% while the Gamma Icelandic Opportunity Fund, which follows a multi-asset strategy offering diversification across fixed income, equity and alternative assets in Iceland, returned 5.1% in EUR returns. This was by comparison to a +0.63% rise on the NHX Composite with the majority of funds (82%) reporting. The funds were launched in November of last year and have thus far performed strongly.
Gamma Capital Management currently has AUM amounting to over USD1.2 billion, with a client base consisting of pension funds, insurance companies, family offices and high net worth individuals. The Icelandic Opportunity and Icelandic Macro funds leverage the extensive experience and local experience of Gamma’s team of professionals to provide international investors with “a convenient conduit to invest in Icelandic markets.” The funds are a response to an ever-growing interest in Iceland and are actively managed “in order to capture the idiosyncratic nature of the fast-growing Icelandic economy.”
Gamma Capital Management was awarded the HFMWeek 2017 European Hedge Fund Performance Award for the best macro fund under USD 500 million for its flagship real estate fund, Gamma Centrum.