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Andurand’s biggest fund falters in H2

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Faltering oil prices in the second half of the year have impacted commodity trader Pierre Andurand’s biggest hedge fund, with year to date gains having been pared to around 50% following stellar performance earlier in the year, according to a report by Bloomberg.

Faltering oil prices in the second half of the year have impacted commodity trader Pierre Andurand’s biggest hedge fund, with year to date gains having been pared to around 50% following stellar performance earlier in the year, according to a report by Bloomberg.

The report cites an unnamed source as revealing that the Andurand Commodities Discretionary Enhanced Fund, which holds about 60% of the trader’s $1.5 billion in managed assets, was up by more than 160% at one point in the summer. The older Andurand Commodities Fund meanwhile, is up 17% so far this year.

Andurand is one of a group of commodity traders who have made big profits this year on the back of supply-chain disruptions sparked by Russia’s invasion of Ukraine. Doug King’s Merchant Commodity Fund, which manages about $400 million in assets, is reportedly up by a similar amount.

Andurand’s main fund returned 87% last year and 154% in 2020.

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