BlueGold Co-Founder's New Hedge Fund Soars

Apr 12 2013 | 12:45pm ET

BlueGold Capital Management co-founder Pierre Andurand's new hedge fund is off to a fast start.

Andurand Capital Management's maiden fund debuted on Feb. 1 and has returned 16% over its first two months, Bloomberg News reports. The $200 million fund profited from an arbitrage bet on oil traded in London and New York.

Other prominent commodity funds did less well in the first quarter, with the average one returning 1.3%, according to the Newedge Commodity Trading Index. Armajaro Asset Management's commodities fund rose 3.3% on the month and Brevan Howard Asset Management's added 1.1%. Krom River Trading's Commodity Fund fell 1.8% in the first three months of the year, and Clive Capital declined 2.6%.

Andurand set up his eponymous firm after closing BlueGold last year, following a 34% loss in 2011. The new firm focuses on oil, employs less leverage and holds smaller positions, and does not invest in equities.


In Depth

PAAMCO: Will Inflation Deflate the Asset Bubble?

Jan 30 2018 | 9:49pm ET

As the U.S. shifts from monetary stimulus to fiscal stimulus, market pricing should...

Lifestyle

CFA Institute To Add Computer Science To Exam Curriculum

May 24 2017 | 9:25pm ET

Starting in 2019, financial industry executives sitting for the coveted Chartered...

Guest Contributor

Boost Hedge Fund Marketing ROI By Raising Your ROO

Feb 14 2018 | 9:57pm ET

Tasked with delivering returns on client capital, a common dilemma for many alternative...