Sometimes it’s the things ticking over in the background that can cause the greatest chaos in markets.

Take an unidentified virus circulating in a lesser-known city in China back in late 2019. Or the rise in populism that resulted in Brexit back in 2017. Just a few years earlier, the debt problems in Greece threatened the ongoing existence of the European Union.

We finished 2023 with equity markets on a high, while bond markets are pricing for a soft landing.

What underestimated nasties in today’s world could be the biggest market disruptors in 2024? After all, there’s a reason the famed Doomsday Clock still stands at 90 seconds to midnight (i.e. a catastrophic disaster to the world is imminent).

We spoke to 12 fund managers to see what they viewed as the most underappreciated risks for the year ahead. While none of them predict COVID 2.0 (at this stage...), some of their concerns might take you by surprise.

Our featured fund managers include (in order of appearance): 

• Mary Manning, Alphinity Investment Management
• Marc Whittaker, IML
• Vihari Ross, Antipodes
• Chris Stott, 1851 Capital
• Joel Fleming, Yarra Capital Management
• Emma Fisher, Airlie Funds Management
• Daniel Sullivan, Janus Henderson Investors
• Dr Philipp Hofflin, Lazard Asset Management
• Francyne Mu, Franklin Templeton
• Matthew Kidman, Centennial Asset Management
• Matthew Haupt, Wilson Asset Management
• Bob Desmond, Claremont Global

Note: You can read an edited transcript below. These interviews were filmed on Tuesday, 12 December 2023.

https://www.livewiremarkets.com/wires/the-10-most-underappreciated-risks-in-2024