The purpose of this paper is to derive the anisotropic averaged Euler equations and to study their geometric and analytic properties. These new equations involve the evolution of a mean velocity field and an advected symmetric tensor that captures the fluctuation effects. Besides the derivation of these equations, the new results in the paper are smoothness properties of the equations in material representation, which gives well-posedness of the equations, and the derivation of a corrector to the macroscopic velocity field. The numerical implementation and physical implications of this set of equations will be explored in other publications.

24 pages, 1 figure