Growing up on a small farm in rural Minnesota, Renée Haugerud learned early on about commodities prices and how to hedge them. Based on an illustrious career in the world's leading commodities trading centers, in 1997 she founded Galtere Ltd., a commodity-focused global macro registered investment advisor with roughly $1 billion in assets under management today. The flagship Galtere International Master Fund boasts a 12.5% annualized return, net of fees, since inception in 1999. Galtere is a unique global macro fund with a strong focus on real assets and commodity fundamentals which have been found to influence other asset classes.
In this Opalesque.TV interview, Renée gives her investment outlook for the next decade where she believes commodities will outperform other strategies during a period of “inverse stagflation” or “reverse stagflation”. While the period of 1978-1982 lead to stagflation, ushering in a 30 year cycle of paper and financial outperformance, Renée identifies 2007-2011 as the beginning of a period where tangible asset will consistently beat paper products for an extended period.
In addition, learn about the following:
Looking through the Commodities Lens of Renée Haugerud:
- Real assets drive all asset classes and geographies
- Nearly 13 years at Cargill – Experience in all asset classes and understanding asset class interrelationships
- How the rural background of a sheriff’s daughter leads to a passion for commodities investing
- The gold arbitrage opportunity that compelled Renée to start Galtere
- Money has become “the grain of the 80's”: Easy money now is what cheap commodities were in the '80's
- Shifting investor perceptions of commodities from high risk trade to an investment
- The 2 separately overlaid trading mechanisms that drive Galtere’s consistency
Renée Haugerud is the Founder, Chief Investment Officer and Managing Principal of Galtere Ltd., a registered investment advisor that manages several commodity focused products. Throughout her thirty year investment career, Ms. Haugerud has acquired expertise across all asset classes, through posts in the U.S., Canada, the U.K., Switzerland, Australia, and Hong Kong.
She began her tenure in financial markets by trading cash commodity markets in the United States and Canada for Cargill Inc. and Continental Grain. Her interests in the relationship between financial markets and geopolitics led to her first international post in Geneva Switzerland, where she ultimately served as Cargill's Foreign Exchange Trading Manager. During her career at Cargill, Ms. Haugerud developed expertise in a broad and diverse range of securities by assuming the positions of Manager of the US Fixed Income trading desk, Minneapolis, MN; Financial Division Manager of the Melbourne Australia Office; board membership of Cargill Australia; and finally Vice President/Structural Trading Manager at Cargill's corporate headquarters in Minneapolis, MN. Following her years at Cargill, Ms. Haugerud managed proprietary trading desks at institutions including Natwest Markets in Hong Kong and Hunter Douglas N.A. in the U.S.
In 1997 Renée Haugerud founded the hedge fund Galtere Ltd. Galtere’s flagship strategy distinguishes itself from pure commodity strategies and from traditional global macro strategies by blending elements of both.
