Wednesday, 24 August 2016
Last updated 5 hours ago
Jan 10 2013 | 2:03pm ET
Duet Asset Management's former top commodities traders have launched a hedge fund of their own.
Tony Hall and Arno Pilz incorporated Hall Commodities in London last month, Bloomberg News reports. It is unclear what the new firm's precise strategy will be, when it will launch its maiden fund or how much it hopes to raise.
Hall and Pilz left Duet in July after a run of rough performance: The duo's Duet Commodities Fund suffered losses in nine of their last 10 months at the helm. The US$100 million hedge fund did manage a 26% return in 2011, the only full year that Hall and Pilz ran it after launching it in the summer of 2010.
Prior to joining Duet, Hall was global head of distillates oil trading at Credit Suisse-Glencore and Deutsche Bank. Pilz was a metals trader at UBS and Apollo Management.