Pierre Andurand’s Andurand Commodities Discretionary Enhanced Fund reportedly gained 82.5% this year, thanks to the strong rally in energy markets, according to Reuters. The flagship fund, Andurand Commodities Fund, was up 33% in the same period.
In September alone, the discretionary fund has risen by 20% due to rising gas prices in Europe and the US.
Gas supply shortages and strong Asian demand have been blamed for high prices amid low inventories.
The price surges in natural gas are already felt by trading firms that have seen their liquidity tied up by huge margin calls on gas futures.
US natural gas futures reached a 12-year high on Tuesday, while the European benchmark, Dutch front-month wholesale gas, hit a record of 100 per megawatt-hour.
Andurand Commodities Discretionary fund rose by 154% last year, while the flagship fund jumped by 68.6% in the same period at the back of the Covid-19 pandemic. NG1! is up +0.83%.