Gamax launches institutional share class for two funds

Gamax Management has launched an institutional share class for its Gamax Funds Maxi-Fonds Asien International and Gamax Junior funds, catering to sophisticated investors such as funds of funds and insurance companies, and it also signalled an expansion of its portfolio range into Scandinavia.

Furio Pietribiasi (pictured), chairman of the board of directors of Gamax, which is part of Italy’s Medoilanum Banking Group, said all front-end loading has been waived for these classes.

The management fee for the funds, managed on behalf of Gamax by DJE Kapital, is 0.9%, and the minimum subscription €1m.

Pietribiasi said the funds had already been taken up by funds of funds, insurance companies, bank, portfolio managers and other financial institutions in Germany, Spain and Italy.

Gamax Asien aims to achieve above-average returns in Asia’s growth market equities on low volatility.

Gamax Junior is invested mainly in international equities and companies selling products and services to younger people.

Its manager since mid-2007 Jan Ehrhardt said young people could be useful ‘leading indicators’ of companies whose products and services will be adopted or bought by many more people in future.

“We like companies whose products appeal to young people, who adopt them faster than older people. That is a key reason we look at what young people buy,” he said. He cites technology and fashion as sectors where this can apply, though he is careful to select attractively valued companies for the Gamax Junior portfolio.

Over the past three years, both funds have beaten their respective benchmarks and made about 64% each.

Clients with €500,000 or more in Gamax products can benefit from being members of the group’s ‘Premium Investors Club’.

Extra reporting by the funds and SMS notifications of fund changes are among the services this provides.

For more on Gamax Junior, see the next edition of Investment Europe.

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