BlueGold Up 5.5% In Q1 After 3% March Drop

Apr 8 2011 | 3:48am ET

BlueGold Asset Management had a pedestrian January and a terrible March. But a tremendous February insured that the commodity-focused hedge fund enjoyed a strong first quarter.

The London-based firm, which has been long oil amidst the unrest in the Middle East and North Africa, enjoyed a 7.5% surge in the second month of the year, enabling it to withstand a 3.3% drop last month. Combined with its 1% return in January, BlueGold ended the first quarter up 5.5%, Reuters reports.

Pierre Andurand, BlueGold's founder, is "a directional oil guy, so it isn't surprising that his fund's fortunes mirror the crude market," an investor told Reuters. Oil's recent rally sputtered in March.

BlueGold has about US$2 billion in assets under management.


In Depth

An Interview With Harvest Volatility Management's Rick Selvala

Mar 23 2017 | 5:39pm ET

Several years of extremely low interest rates have pushed some investors into equities...

Lifestyle

'Tis the Season: Wall Street Holiday Parties Back In Fashion

Dec 22 2016 | 9:23pm ET

Spending on Wall Street holiday parties has largely returned to pre-2008 levels...

Guest Contributor

SEI: Private Debt Coming Into Its Own

Mar 8 2017 | 9:24pm ET

The explosive growth of private debt over the past few years has caused the lines...