New York-based Galtere Ltd. joined October's macro fund rally, posting a 3.05% net gain for the month. On top of a 5.97% net rise in September, that puts the fund up 11.25% (net) for the year. For October, Galtere Ltd. came in just behind the Absolute Return Macro Index, which returned 3.3% for the month.
Launched in March 1999 by Renee Haugerud, Galtere Ltd. now manages $1.2 billion in assets. Galtere Ltd., which follows a commodity-based global macro strategy, profited from the strengthening of commodities and weakening of the U.S. dollar, with a particular emphasis on strong commodity