Astenbeck Capital Management is living up to its reputation for volatility.
The commodity hedge fund rose 3.1% in April, good enough to put it up double-digits for the year. The $3.4 billion fund is up 11.3% in 2014, after losing 8.3% last year.
Astenbeck continued to benefit from rising oil and gas prices. Most of the firm’s gains came in February, when it rose 7.7%.
In his letter to investors, Astenbeck chief Andrew Hall did not offer an update on his relationship with Occidental Petroleum, which owns Hall’s Phibro trading desk and a stake in Astenbeck. Occidental is thought to be mulling an end to its relationship with Hall, which began when it bought Phibro from Citigroup.