April 9, 2018 / 12:15 PM / 2 years ago

REFILE-UPDATE 1-Oil trader Andurand's hedge fund fell in first quarter -HSBC

(Adds dropped word “percent” in first paragraph)

* Fund gained 3.6 pct in March after 14.5 pct Feb loss -HSBC

* Oil rose 3.7 pct in the first three months of the year

LONDON, April 9 (Reuters) - Oil trader Pierre Andurand’s hedge fund lost 6.7 percent in the first quarter of 2018 after recouping some of the heavy losses suffered in February, data compiled by HSBC showed.

Andurand Capital made gains of 3.6 percent in March after losing 14.5 percent in February, following returns of 5.2 percent in January, the data showed.

A spokesman for Andurand Capital declined to comment.

Many commodities-focused hedge funds lost out on trades in commodities and energy betting on higher prices in February, a separate report from industry tracker Eurekahedge showed.

The price of oil has recovered from February lows, rising by 3.7 percent in the first three months of the year, briefly trading above $71 a barrel, its highest in more than two years. (Reporting by Maiya Keidan and Amanda Cooper Editing by Simon Jessop and Alexander Smith)

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