Astenbeck Down 8% Through November

Dec 10 2013 | 3:01pm ET

One of the world's most volatile hedge funds is living up to its reputation this year.

Astenbeck Capital Management lost 4% last month as founder Andrew Hall admitted that he was caught off-guard by the growing spread between crude oil traded in the U.S. and in London. "The recent blow out in Brent/WTI spread… caught many—including ourselves—by surprise," Hall wrote to investors on Dec. 2.

With November's loss, Westport, Conn.-based Astenbeck is down 8% for the year, Reuters reports. It has been in the red in each of the last three months, after having pulled itself back into positive territory in August.

If it's not able to do so again, the firm will suffer its second-ever down year, following a 3.8% loss in 2011. Of course, Astenbeck has cut it close before: It was down 10% through August of last year, but managed to end 2012 up 3.4%.


In Depth

FINalternatives Survey: We Asked Investment Pros...

Apr 2 2016 | 9:42pm ET

The data from our annual reader survey continues to roll in and provide interesting...

Lifestyle

Point72's Cohen Donates $275M To Veterans Mental Health Network

Apr 6 2016 | 8:31pm ET

Billionaire hedge fund manager Steve Cohen has formed a non-profit aimed at treating...

Guest Contributor

Agecroft: Why NYCERS Should Reconsider Exiting All Hedge Funds

Apr 18 2016 | 5:51pm ET

The recent decision by the New York City Employment Retirement System to exit its...