Hall, Red Kite Pace Commodities Hedge Funds

May 9 2013 | 12:00pm ET

Andurand Capital Management isn't the only new commodities hedge fund off to a fast start.

Hall Commodities, headed by former Duet Asset Management traders Tony Hall and Arno Pilz, returned 6.7% in April, Bloomberg News reports. London-based Hall hasn't actually launched its maiden fund yet; the returns come from trading a shadow US$100 million portfolio.

Like Andurand Capital founder Pierre Andurand, Hall and Pilz are seeking redemption: They resigned from Duet in July after losing money in nine of their last 10 months running the Duet Commodities Fund.

Andurand Capital and Hall aren't the only commodities funds doing well in what has otherwise been a forgettable start to the year for the sector, with the average fund down 2.3%, according to eVestment. RK Capital Management's funds are both up double-digits through April, with its Red Kite Metals Fund up 25% and its Red Kite Compass Fund 20%.


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The U.S. Commodity Futures Trading Commission (CFTC) ordered The Goldman Sachs Group Inc., and Goldman, Sachs & Co. to pay a $120 million penalty for attempted manipulation and false reporting of ISDAFIX Benchmark Rates, a global benchmark for interest rate products.