Monday, 26 January 2015
Last updated 39 min ago
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.
Jan 23 2015 | 1:00pm ET
In our new section, FINtech Focus, we will profile one of these firms each week. While fintech is a broad category, we will be focusing on firms that specifically cater to the alternative investment industry. Read more…