A managed futures account (MFA) or managed futures fund is a type of alternative investment in which trading in the futures markets is managed by another person or entity, rather than the fund's owner. Managed futures accounts include, but are not limited to, commodity pools. These funds are operated by commodity trading advisors (CTAs) or commodity pool operators (CPOs), who are generally regulated in the United States by the Commodity Futures Trading Commission and the National Futures Association. As of December 2011, the assets under management held by managed futures accounts totaled $314 billion.
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