Eric Nuttall says he is '100% invested right now' amid OPEC+ production cut
BNN Bloomberg
Amid volatility in oil markets, Eric Nuttall, a partner and senior portfolio manager at Ninepoint Partners, said his fund is not holding any cash and is fully invested.
Despite the recent drawdown in energy stocks, Nuttall said in a television interview Thursday that his fund is “100 per cent invested right now.”
Previously this summer, he said his fund was up around 90 per cent, but following heightened recession fears the summer’s gains have pared back to about 50 per cent.
“So I am buying in stocks that are debt-free early next year, are trading at a quarter of what they used to trade at, are a wash in free cash and have pledged to give that back to my clients in the form of buybacks and dividends. So I'm extremely optimistic and bullish on the sector for the rest of this year and going forward,” Nuttall said.
