Andurand’s Oil Hedge Fund Tumbles 8.4% After Two Years of Losses

Losses at Pierre Andurand’s hedge fund deepened in January as fears of the coronavirus hurting global economic growth roiled commodity markets and squeezed the demand for oil.

His Andurand Commodities Fund, one of the oil market’s last remaining hedge funds, slumped about 8.4% last month, according to a person with knowledge of the matter. The losses marked the fund’s biggest monthly decline since October 2018 when the fund had plunged 21%, an investor letter shows.