Tuesday, 1 December 2015
Last updated 19 hours ago
May 9 2013 | 12:01pm ET
Pierre Andurand has wasted no time putting BlueGold Capital Management's difficult last years behind him at his new hedge fund.
Andurand's eponymous new oil fund, which debuted at the beginning of February, is up 25% through its first three months, after rising a further 8% in April, Bloomberg News reports. Andurand Capital Management's arbitrage bet on oil traded in New York and London continued to pay off last month as the price differential between the two continued to fall.
The average commodity fund is down 2.3% this year, according to eVestment.
Andurand set up his new firm after shuttering BlueGold last year, and has managed the returns despite using less leverage than the defunct firm. Andurand Capital also holds smaller positions and shuns equities. BlueGold lost 34% in 2011.
Andurand Capital currently manages US$250 million.
Oct 21 2015 | 10:41am ET
One of the most unique charity benefits in the hedge fund industry, A Leg To Stand On's (ALTSO's) Hedge Fund Rocktoberfest - NYC, raised nearly $500,000 last Thursday thanks to the generous support of major sponsors and nearly 1,400 attendees from the Tri-State finance, business and hedge fund communities. Read more…