Portfolio Management In 2024: Planning For Uncertainty With Managed Futures & KMLM

2024 Uncorrelated Assets Outlook

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Keeping in mind that there is no crystal ball, what sources of uncertainty do we see on the horizon as we look ahead to 2024? And how does that create opportunity for Managed Futures? Big questions. Markets tend to move aggressively when things don’t turn out as expected. Managed Futures strategies, like the KFA Mount Lucas Managed Futures Index ETF (Ticker: KMLM), can be framed as exposure to this uncertainty.

2024 Uncorrelated Assets Outlook Key Highlights:

  • The US stock market is close to record highs after trading at relatively expensive multiples, driven by expectations of interest rate cuts early in 2024, which is far from certain.
  • In fixed-income and currency markets, Fed cuts and a resulting dollar slump are being priced in. However, upcoming elections and a potential stimulus boost in China make this outlook less certain.
  • In commodities, there are imbalances with a perceived supply glut in oil, supply constraints on electrification metals such as copper, and the potential for an increased grain supply.

2024 Uncorrelated Assets Outlook Contents:

  • Introduction
  • Equities Outlook
  • Fixed Income & Currency Outlook
  • Commodities Outlook
  • Managed Futures/KMLM Outlook