Portfolio Manager, Commodities
Mr. Hagedorn is an executive vice president and commodities portfolio manager in the Newport Beach office. He has spent the entirety of his career in commodity markets, with a primary focus on agriculture. Prior to joining PIMCO in 2018, he was a proprietary trader at TrailStone Group in London, and previously worked at Citadel and Brevan Howard. Mr. Hagedorn began his career as an economist for the Chicago Board of Trade before joining J.P. Morgan, where he was head of agricultural commodities research and strategy. He has 19 years of investment experience and holds a master of science degree in agricultural economics and undergraduate degrees in economics and psychology from the University of Illinois at Urbana-Champaign.
With their ability to act as an inflation hedge, diversifier and return enhancer, commodities should be considered an important portfolio allocation over the long term.
Despite macroeconomic headwinds, commodities markets may offer attractive return potential this year in light of ongoing supply constraints and China’s reopening.
Supply-side constraints on commodities pose risk to the global economy and elevate right tail risks to inflation.