Mamdani oversees one of the largest hedge funds in Canada—RBC Global Asset Management’s $1-billion PH&N Absolute Return Fund, which has a 10-year annualized net return of 15.6%. That’s almost 1,500 basis points better than the HFRX Global Hedge Fund Index.
Is it hard to manage money from Vancouver?
Being in Vancouver often gives you the perspective to make better long-term decisions. In 2002, for instance, Telus was downgraded to below investment grade; everyone was freaked out about how institutions with investment-grade accounts couldn’t hold the bond any more, and were selling. On the corner of King and Bay, everyone kept talking about this. Sitting here, looking out at the Pacific, you just stop and think, “Does it make sense for a bond that will repay you par in four years to be trading at 60 cents on the dollar?” We purchased about $500-million worth of Telus paper. We did extremely well.
Click here to read at The Globe and Mail: Invest like a legend: Hanif Mamdani
Related:
Hanif Mamdani – A Stellar Performer
Hanif Mamdani awarded 2011 Fund Manager of the Year distinction
Hanif Mamdani, Head of Alternative Investments, PH&N and RBC Asset Management, Vancouver
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