In The News

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The homespun value investor
November 20, 2006

Michael Decter, formerly a mandarin in a couple of NDP governments, has undergone a metamorphosis and emerged as a manager of mutual funds that do opportunistic hedging.

In his latest transformation, he is president and chief executive officer of Lawrence Decter Investment Counsel Inc. in Toronto. His Redwood Diversified Income Fund posted a 21.3-per-cent return for the 12 months ended Oct. 31, about double the 11.2-per-cent average of Canadian income balanced funds. His Redwood Diversified Equity Fund did a bit better with a 23.6-per-cent return, more than double the 10.1-per-cent average return of Canadian balanced funds.

By ANDREW ALLENTUCK