Commodities hedge fund giant Andurand posts 82.5pc return

LONDON, Oct 6 (Reuters): Hedge fund manager Pierre Andurand's Andurand Commodities Discretionary Enhanced Fund was up 82.5 per cent this year as of Oct. 1 on soaring energy prices, a source with direct knowledge of the matter said.
The discretionary fund has unconstrained risk limits and jumped 20 per cent alone in September on rising US and European gas prices, European power and oil prices.
His flagship fund, the Andurand Commodities Fund, was up 33 per cent as of Oct. 1, added the source, who asked not to be named.
Global gas prices, particularly in Europe, have soared over the last month owing to supply shortages, high Asian demand and low inventories.
Dutch front-month wholesale gas, the European benchmark, continued its meteoric rise, hitting an all-time high of 100 euros per megawatt hour on Tuesday. Meanwhile, US natural gas futures have hit a 12-year high.