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GWM family office sets €500m target for new UCITS III fund


Geneva-based family office GWM Institutional has launched 7H Absolute, a UCITS III hedge fund that aims to grow up to €500 million ($654.3 million) in the next few years.

Peter Sartogo

The Luxembourg-domiciled 7H Absolute, a European equity SICAV fund, is managed by Simone Chelini and Pietropaolo Rinaldi, the founders of the award-winning Unifortune Albatross Fund who joined GWM in February 2009.

7H had around €30 million ($39.2 million) assets under management when it launched in June and since its inception the fund has returned 2.16%.

The fund invests mainly in equities and equity-related instruments listed on European