Pierre Andurand’s discretionary fund up 82.5% as of Oct. 1
LONDON, (Reuters) – Pierre Andurand, a hedge fund manager and manager of Andurand Commodities Discretionary Enhanced Fund, was up 82.5% as of Oct. 1 according to a source who has direct knowledge.
The discretionary funds have no risk limit and increased 20% due to the rising U.S., European and European energy prices and European power prices.
Sources said that his flagship fund, The Andurand Commodities Fund (or Andurand Commodities Fund), was up 33% by Oct. 1.
Due to low inventories, supply shortages and high Asian demand, global gas prices have shot up, especially in Europe.
The European benchmark for front-month gas in the Netherlands, Dutch wholesale gas, saw a meteoric increase to an unprecedented 100 Euros per megawatt hour Tuesday.
After the COVID-19 pandemic, which roiled the energy markets, discretionary funds saw record growth of 154%, while flagship funds experienced a 68.6% increase.
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