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

Firm Focus: Sustainable Insight Capital Bullish On ESG

Aug 12 2014 | 9:18am ET

Bruce Kahn spent over 15 years as a research scientist/consultant on environmental...

Lifestyle

Viking Manager In Rent Dispute

Aug 11 2014 | 4:14am ET

A hedge fund manager is demanding most of his money back from his former landlord...

Guest Contributor

Majority Of Inflows Go To Brand Name Hedge Funds

Aug 12 2014 | 9:00am ET

Since the market correction of 2008, a vast majority of hedge fund net asset flows...

 

Editor's Note

 

Futures Magazine

PREVIEW July/August 2014 Cover

Inside Futures' 500th Issue

The July/August 2014 issue is our largest in years—filled with the best trading strategies and stories from 43 years of being the primary publication for commodity, stock, options and forex traders.

The Alpha Pages

TAP July/August 2014 Cover

Real talk on alternative investments, business & finance

The Alpha Pages Editor's Note