Stockholm (HedgeNordic) – GAMMA Capital Management, an Icelandic asset management company that manages two funds included the Nordic Hedge Fund Index (NHX), has been awarded the 2017 European Hedge Fund Performance Award for the best macro fund under 500 million USD. The prize was bestowed to GAMMA’s flagship real estate fund, GAMMA Centrum, by fellow hedge fund-focused publication HFMWeek.
The Centrum fund, one of the 18 funds managed by GAMMA, invests in prime residential property in the capital of Iceland using a thorough analysis of macroeconomic fundamentals and demographic trends. The fund has generated an astonishing annualized return of 36.1% (48.7% in Euro terms) since inception. The wealth manager wants to leverage its experience in the real estate industry by launching a UK real estate fund in London, as the firm seeks to take advantage of the current unique entry opportunity in the prime real estate market in the UK.
“We at GAMMA Capital Management are extremely proud to receive this recognition of the macro economic strategy on which our firm and funds are based. The award is also an encouragement for us to continue on the same track, with the focus as always on providing outstanding performance for our clients,” said Gísli Hauksson (pictured), the Chairman and co-founder of GAMMA, at last week’s HFM European Hedge Fund Performance Awards ceremony held in London.
GAMMA Capital Management is no stranger to such awards, as the Iceland Opportunity Fund – one of the two funds managed by GAMMA included in the NHX – recently received BarclayHedge’s recognition award for excellence after ranking #1 among peers in the Balanced (i.e. stocks and bonds) category for February 2017. The fund’s EUR class delivered an astounding return of 9.5% in February, though the fund plunged by 5.5% in the following month.