The hedge fund managed by Pierre Andurand, an oil trader, is set to have its worst ever loss, after its bets on oil futures failed to pay off, according to a report by Bloomberg.
The staggering losses end a three year success streak for the fund. Andurand’s main fund has slumped by 54%, the report added.
The report cites a person familiar with the matter as saying that if confirmed, this would be the fund’s worst ever loss since its incepetion.
