(Bloomberg) 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.
Canada’s Hedge Fund King Builds Up Cash After Energy Win
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