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Opalesque Industry Update - GAMMA Capital Management in London has launched two Irish domiciled funds focusing on investments into Iceland. The funds are designed to take advantage of the current favourable economic environment in Iceland, high economic growth, high interest rate differential between Iceland and other countries and the expected further appreciation of the Icelandic krona. The Iceland Macro Fund will invest in government obligations denominated in ISK, bank bills and deposits. The Iceland Opportunity Fund will invest in a number of Icelandic assets, including government bonds, deposits, corporate credit, listed equities and listed real estate companies, either directly or through funds. The two are Irish domiciled Qualified Alternative Investment Funds (‘ICAV') with EUR and USD share classes. GAMMA has created a vehicle for international investors to invest in Iceland without having to set up custody and bank accounts in Iceland and without having to exchange EUR/USD into the local Icelandic krona. GAMMA Capital Management Limited will act as investment advisor for the funds. The Alternative Investment Fund Manager (‘AIFM') and Investment Manager is DMS Investment Management Services (Europe) Ltd and the fund administrator is SEI, both in Ireland. KPMG Ireland acts as structure advisor and Dillon Eustace as legal advisor. Both funds are priced on Bloomberg. GAMMA Capital Management Limited, is based in Mayfair, London, and is supervised and authorised by the Financial Conduct Authority in the UK. GAMMA Capital Management HF in Iceland is a fund management company, supervised and authorised by the Icelandic Financial Supervisory Authority, with assets under management amounting to approximately 800m GBP. |
Industry Updates
GAMMA launches two alternative investment funds investing into Iceland
Friday, December 02, 2016
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