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Canada’s Hedge Fund King Builds Up Cash After Energy Win

  • PH&N Absolute Return Fund has returned 31% year-to-date
  • Waiting for market dislocation from rising yields to move
Canada Hedge Fund King  Building Cash on Energy Win

Canada Hedge Fund King Building Cash on Energy Win

Updated on

Canada’s hedge fund king, who won big by snapping up beaten-up energy bonds, is waiting for his next big move.

Hanif Mamdani, head of alternative investments at Royal Bank of Canada’s RBC Global Asset Management and responsible for about C$6 billion ($4.6 billion) in assets, said he’s prepared to sit on cash and wait for opportunities -- possibly in REITs and utilities -- that may arise if the U.S. 10-year Treasury yield climbs toward 3 or 3.5 percent from 2.45 percent on Tuesday.