Corporate Vision March 2017

10 CORPORATE VISION / March 2017 , HakonHaugnes speaks to Corporate Vision about Andurand Capital Management, winner of the Executive of the Year 2017 awards for the UK, and its philosophy for delivering customer excellence and how internal culture creates success. Capital Gains Andurand Capital Management LLP is a private fund management company in fundamental commodity strategies with a specialisation in the oil and energy complex. The LLP is led by Pierre Andurand, one of the world’s most renowned oil and energy traders. The investment strategy targets absolute returns with an asymmetric upside, via detailed supply and demand forecasting, fundamental, macroeconomic and physical market information combined with various technical market indicators to generate fair values, forecasts and trading signals for energy and commodities. Hakon Haugnes is a Partner and CFO/COO of Andurand Capital Management LLP and responsible for all operational and financial (non-investment) aspects of the company. Hakon was previously Risk Manager for BlueGold Capital (2010-2012), reporting to the CFO and CIO on all risk management aspects of the hedge fund which at its peak managed over $2 billion USD. Mr Haugnes also developed BlueGold’s information systems and headed up the in-house development team. He served with the Norwegian Armed Forces as Strategist and holds a master’s degree (honours) in mathematical modelling from the Institute of Cybernetics at the Norwegian Institute of Science and Technology (NTNU) and studied engineering at Institut National des Sciences Appliquees (INSA) in Toulouse, France. Hakon tells us more about Andurand and the firm’s overall mission. “Andurand Capital is a commodities hedge fund, managing $1.6bn on behalf of its clients, which include pension funds, insurance companies, family offices, funds of hedge funds and private clients. “We have currently one fund, the Andurand Commodities Fund, which trades the global commodity universe with a primary focus on. Together with Managing Partner and CIO, Pierre Andurand, I lead an experienced team of eight investment and 14 non- investment professionals, across two offices in London and Malta, and opening a new office soon in New York. “Everything we do at Andurand Capital is in line with our mission of achieving superior uncorrelated returns for our investors. We are detail oriented and data driven in everything we do. We value data analysis tremendously high.” The commodities space in the hedge fund industry is under pressure and there have been a number of high profile closures. There is less direct competition in the market now as hedge funds survive depending on their performance. “We are very humbled by our success in a struggling market,” says Hakon, and he embellishes on what it is that sets Andurand apart from competitors in the industry. “Our Managing Partner and CIO, Pierre Andurand, is one of the most experienced traders in the market with a proven track record over the past decade. The reality of the hedge fund industry is that firms live and die on their performance. Marketing regulations prevent us from stating what this is, but we believe we remain the leading choice based on our long-term track-record. “In order for us to continue to focus on delivering returns it’s exceptionally important that we continue to invest and maintain our infrastructure and systems. We believe that this also distinguishes us from our peers, there is a strong operation behind the scenes at Andurand Capital which enables our investment professionals to focus on returns. We are highly specialized to manage commodities investments and we believe our systems and procedures are second to none in our asset class and size – managing risk and investments to superior results. We outsource small specialized parts and keep as much as possible in-house where we can control everything in detail.” Staying up to date with the regulatory environment is a priority for Andurand. The team prepares and works rigorously to ensure it is always ahead of emerging developments. Hakon takes us through the process the firm follows when undertaking a new project in order to ensure that clients always receive the best possible outcome. “Our entire operation is custom built for best-in-class management of commodity investments. We strive to internally control each single element in the value chain from investment research to investment execution. This ensures that our fund management processes are best-in-class for our investors, whether considering investment processes, regulatory compliance, independent oversight by Directors, systems and procedures, management and staffing qualification, fundamental and statistical analysis. The whole value chain process is highly developed specifically for commodities and risk controls.” Recently, Andurand Capital Management, and in particular Hakon, was awarded the title of Executive of the Year 2017 – UK COO & Partner by Corporate Vision. He tells us exactly what this prestigious accolade means to him, and how the internal culture and dedicated team effort have led to the firm’s overall success. “The team and I appreciate the award, which demonstrates our focus on, and strong results in business execution. Our culture is co-operative and we have a very close-knit and open team. There is a flat structure at the firm and whilst everyone has a specialised role, there is a good degree of overlap so that all company functions are well supported at all times, ensuring that our clients receive the best possible service. 1702CV59