Andurand’s Oil Hedge Fund Suffers Second Consecutive Annual Loss (Bloomberg) Pierre Andurand, one of the oil market’s last remaining hedge fund managers, posted his second consecutive annual loss with a 7.1% decline in 2019, according to people familiar with the matter. The loss at Andurand Commodities Fund further darkens the picture for the industry, which over the last five years has seen many high-profile managers shutting down their flagship commodity hedge funds while others suffered large losses that spooked investors.