Ex-Goldman Fuel Trader's Hedge Fund Up 12.2%

Mar 17 2011 | 1:36pm ET

Former Goldman Sachs fuel oil trader Gilbert Saiz is doing very well for himself as a hedge fund manager.

Saiz's Vector Commodity Management returned 8.2% last month, almost as much as it made last year, when it returned 8.6%. The fund, which launched last June, is up 12.2% through the first two months of this year.

The firm is also building up its assets, having reached US$258 million by the end of January. Vector managed just US$80 million in September. The London-based firm has a capacity of US$600 million.

Before launching Vector, Saiz was head of Goldman's fuel-oil desk in Europe, working at the firm for more than a decade. As at Goldman, Saiz trades crude oil and refined oil products at Vector.

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