The Times They Are a-Changin’ – USCF Investments – 4.19.22

Summary:

Now On Demand.

Just two years ago, media had zero coverage of inflation as a topic of interest. Now, multiple stories appear every day about how inflation is affecting the global economy, consumers and business. Conditions have changed so quickly that many investors and advisors have found their portfolios poorly equipped for this new reality. Recent events are even further accelerating the transition to an inflationary environment. Commodities provide valuable and timely portfolio properties that deserve consideration within this volatile macroeconomic environment.

• U.S. Consumer Price Index, the primary benchmark for U.S. inflation, rose steadily to 7.9% over the last year before Russia’s unprovoked invasion of Ukraine.
• By the end of 2022, the US is expected to have the world’s largest LNG export capacity. This capacity has taken center stage as Europe looks to reduce its reliance on Russian gas.
• Midstream volumes have recovered to pre-COVID levels, leverage continues to decline, and shareholders are being rewarded through the combination of higher distributions and share buybacks.
• Global inventories for many metals have fallen, leading to increased prices.
• Major agricultural markets such as soybeans, corn and wheat saw price declines over the prior decade, and prices have risen significantly since late 2020.

Speaker:

Maya is the Head of Distribution for USCF. Maya has over 20 years of experience in asset management and is responsible for expanding the firm’s distribution and business development efforts. Prior to joining USCF, Maya was at Brandes Investment Partners where she served as National Accounts Manager, Associate Portfolio Manager and Product Coordinator for the Small Cap and Canadian Portfolios. Maya received her BSBA in Finance from San Diego State University. She holds a Series 3 registration with the NFA as well as FINRA Series 6,7, and 63. Maya is a registered representative of ALPS Distributors, Inc.

As Chief Investment Officer for USCF, Kevin brings over 20 years of experience as a Senior Commodities Portfolio Manager. Kevin is responsible for expanding USCF’s product line and overseeing the company’s investment policies and portfolio management team. Prior to joining USCF, he was Senior Portfolio Manager of Alternatives and Commodities for Invesco PowerShares. Kevin was part of the OppenheimerFunds team responsible for launching a the first commodities mutual fund and subsequently incorporated the first off-shore Cayman subsidiary for a commodities fund. Kevin also served as Senior Portfolio Manager, head of Commodities and earned the Barron’s/Value Line “Top 100 Managers” designation three times. Kevin is a CFA Charterholder and CAIA Charterholder. Kevin earned his Bachelor of Business Administration degree in Finance from Texas Tech University. He is registered with FINRA for Series 7, 63 and with NFA for Series 3 and has completed his Swaps Proficiency Requirements. Kevin is a Registered Representative of ALPS Distributors, Inc.

John is a Portfolio Manager and focuses on midstream energy including master limited partnerships (MLPs). Before joining Miller/Howard in 2013, he was a senior vice president and research analyst at Wunderlich Securities Inc. in New York, covering energy including partnerships focused on natural gas, liquids, and exploration & production. Prior to that, John spent more than a decade at Oppenheimer & Co. beginning his career as a junior analyst on the energy team covering major oil companies, refiners, and exploration and production companies and then as a senior research analyst specializing in the midstream sector. He earned his BA in Finance and Marketing from Temple University, and an MBA in Finance from Fordham University School of Business in New York City.

Kurt is the CEO and Founder of SummerHaven. He previously ran the commodity index business for UBS and led the successful effort to acquire and integrate AIG’s commodity index business. Prior to joining UBS, Kurt structured commodity index and equity derivative solutions for clients of AIG Financial Products.