The goal of GAMMA Bond Index is to ensure transparency and efficiency in the Icelandic bond market. The Index is published every day and it´s possible to get it via email by index´s supervisor.
GAMMA Bond Index is calculated and published by GAMMA. The index shows the weighted total return of government issued bonds in Iceland as well as the implicitly backed bonds of the Housing Financing Fund. The weights are calculated from the bonds´ market value. The index is a total return measure which means that coupons and repayments are included and reinvested in the index.
|Index´s supervisor:||Valdimar Ármann|
|Tel:||00354 519 3304|
|Bloomberg ticker:||GAMMA <ALLX>|
Contact index´s supervisor for fact sheet or any further information.
GAMMA Bond Index calculates the total return of government bonds on the market. Coupons and repayments are therefore reinvested in the index. The criteria for each bond is that there is a market making agreement with the Primary Dealers for the bond, and that there are more than six months to maturity. First business day of each month the weights are rebalanced and new bonds added (and too short bonds fall out).
The index is calculated from public and official closing prices at the end of each day as they are published by NASDAQ OMX Nordic Exchange. That ensures the transparancy and reliability of the index. If a bond does not have market making agreement in NASDAQ OMX Nordic Exchange it is not included in the index. Bond issues that have less than six months to maturity are not in the index. GAM Management publishes the value of the index each business day at the end of day. On the first business day of each month the weights of the index are rebalanced, based on data on the last business day of the prior month, to take into account changes in market value, reopening's, new bonds, as well as bonds less than six months from maturity fall out.