News

Law

Asset Management

Investment Banking

Wealth

Hedge Funds

People

Newsletters

Events

Lists

Hedge Funds

Oil-focused hedge funds won big even before crude’s shock sub-zero drop

Pierre Andurand's hedge fund, the Merchant Commodity Fund, and GZC Strategic Commodities Fund have all gained.

Mexican state oil firm Pemex's Cadereyta refinery, in Cadereyta, on the outskirts of Monterrey, Mexico
Mexican state oil firm Pemex's Cadereyta refinery, in Cadereyta, on the outskirts of Monterrey, Mexico Photo: Reuters

Oil-focused hedge funds reaped massive gains from the bloodbath in oil prices — and that was even before this week's surprise descent into negative prices.

The Merchant Commodity Fund, co-founded by hedge fund investor Doug King, is up 18.1% in March and 31.6% for the year until April 14, according to performance data compiled by HSBC.

WSJ Logo