About

 

  • David McLean began his financial career in 1989 in Toronto as a mutual fund wholesaler with CIBC after graduating from Queens University.

    In 1992, after completing the CFA exams, he moved to the UK for an MBA at London Business School.

    In 1994, he joined Chemical Bank UK where he worked as a portfolio manager. One year later, after a bank merger, David was transferred to what is now JPMorgan Chase in New York to work directly for the CEO of Global Asset Management as an investment strategist.

    David returned to Toronto in 1998, where he founded a money management firm, McLean Asset Management Ltd. In 2007, he launched ROMC Fund, short for Return on My Capital Fund.

    While working for large banks, David learned from the mistakes that institutional investors make by placing undue importance on short-term relative performance, especially when overall performance is poor. He also had difficulty reconciling the industry's practice of assessing high levels of fees regardless of performance. Once he began managing money on his own, he put into practice a model that put investors first.

    David believes in:

    1) Maximizing real returns, after tax. The point of saving and investing is to maintain one's purchasing power (taxes and inflation being tolls along the way).

    2) Acquiring interests in productive assets (i.e. good businesses) with high returns on capital, at prices that ensure attractive returns on investor capital. It is about a good "Return on My Capital.”

    3) Avoiding fees. ROMC keeps operating costs low and offers investors a pay-for performance-only option in ROMC Fund.

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