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Digital Subscriptions > The Hedge Fund Journal > Issue 129 – January 2018 > Andurand

Andurand

Global Energy Asset Manager launches UCITS, Equity Funds

Andurand Capital Management LP’s long-term business vision has always been to create an energy asset manager in the broadest sense, including alternative and renewable energy as well as fossil fuel based energy – and covering multiple asset classes. Andurand is now a global firm managing $1.2 billion as of December 2017 with 27 staff across three offices: London, Malta and New York, which has three staff mainly carrying out research for the commodity futures strategy with one analyst also looking at alternative energy, which is more relevant for the new equity strategy. This new equity long/short strategy using commodity equities to express both directional views on commodity prices, and security-specific views on companies, is one of two distinctive new offerings rolled out in 2017. The other is a UCITS version of the commodity futures trading strategy that is the latest episode in Pierre Andurand’s energy trading career that has generated cumulative returns of approximately 3,700%, with the Andurand Commodities Fund up 114.5% from inception in February 2013 to December 2017.

All Andurand strategies are discretionary and fundamental. In early 2018, Andurand is bullish on energy prices and on selected energy equities, which arguably do not even discount current oil prices, let alone expected increases.

Raising oil price forecast

Multiple developments during 2017 have emboldened Pierre Andurand in his call for higher oil prices, and led the firm to increase its level and range of price forecasts. The technical dynamics of the oil market meant that it took longer than expected for the fundamental thesis to play out however.

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