Stocks Still Too Pricey for Top-Performing Canadian Hedge Fund
- ‘I’m not excited,’ head of McLean Asset Management in Toronto
- VIX products could leave investors ‘permanently impaired’
Toronto Stock Exchange
Photographer: Pawel Dwulit/Bloomberg
This article is for subscribers only.
One of Canada’s best-performing hedge funds says stocks are still expensive after last week’s correction and he sees little to get excited about.
“Right now we’re still nowhere close to an equalization in interest rates with equity markets,” said David McLean, managing director at Toronto-based McLean Asset Management Ltd. His C$60 million ($48 million) ROMC Fund was a winner in the 2017 Canadian Hedge Fund Awards for best five-year return in the equity category with an annual gain of 18 percent. The fund also won in 2016.