Commodities trader Pierre Andurand’s biggest fund pared this year’s gain to about 50%, giving up much of its stellar first-half rally as oil prices faltered, a person familiar with the matter said.
The Andurand Commodities Discretionary Enhanced Fund, which holds about 60% of the trader’s $1.5 billion in managed assets, had surged more than 160% by early this summer. The older Andurand Commodities Fund is up 17% this year, the person said, asking not to be named because the information isn’t public.
