Jul
06
Hedge Fund Manager Mamdani Yearns for Volatility After 33% Gain
By-
Absolute Return Fund ‘back to normal’ after 33% surge in 2016
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Sees potential in REITs, energy bonds while awaiting next move
A Canadian hedge fund that earned fat returns last year betting on chaos in the financial markets is finding the world is too stable to try to repeat the feat in 2017.
Hanif Mamdani, who oversees about C$7 billion ($5.37 billion) as head of alternative investments at Royal Bank of Canada’s RBC Global Asset Management, said he’s waiting for opportunities while sitting on a pile of cash as a position heavy in energy company bonds unwinds. The C$1.6 billion PH&N Absolute Return Fund has returned 4 percent this year compared with 33 percent for all of 2016…
Hedge Fund Manager Mamdani Yearns for Volatility After 33% Gain
