Andurand Oil Fund Up 25% In Three Months

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.


In Depth

FINtech Focus: Fundbase Aims To Revolutionize Access To Hedge Funds

Jan 23 2015 | 11:03am ET

Global investment in financial technology—also known as fintech—is booming....

Lifestyle

Ex-Hedge Fund Billionaire Won’t Run For Senate

Jan 23 2015 | 5:48am ET

Ex-hedge fund manager Tom Steyer will not run for Senate after Sen. Barbara Boxer...

Guest Contributor

From Switzerland With Love: Some Hard Truths About Central Banks And Risk

Jan 23 2015 | 7:54am ET

In the wake of the Swiss National Bank uncoupling the country’s currency from...

 

Editor's Note