Bank of America’s chief commodities strategist Michael Hartnett told investors that the current wave of geopolitical tension and macroeconomic uncertainty is reshaping asset allocation. He argues that exposure to raw materials will outperform traditional equity and bond markets for several years. Hartnett’s view reflects a broader shift among fund managers toward tangible assets amid volatile global headlines and investors seeking inflation hedges.

The recommendation comes as oil, copper and agricultural prices have surged amid supply chain disruptions and sanctions on major producers. Analysts note that higher inflation and weaker currencies increase the dollar‑denominated appeal of commodities, prompting pension funds and sovereign wealth funds to rebalance portfolios. Hartnett expects continued demand from emerging economies to reinforce the upward trend and could spur further capital inflows.

For investors, Hartnett’s call translates into a practical allocation shift: increasing exposure to futures, ETFs or direct positions in energy, metals and grain markets. Portfolio managers who act now may capture price appreciation before the sector’s momentum eases later in the decade. The advice underscores a clear tactical move away from cash‑heavy positions toward real‑asset exposure, especially as yield curves flatten worldwide.