10-Year Capital Market Return Assumptions

Research has shown that demographic trends have important relationships with many economic variables. As a nation’s population ages, the balance of capital tends to shift from debtors to creditors. The supporting data behind the phenomenon and other initial baseline assumptions outlines our capital market return forecasts for approximately 50 asset classes around the world for the next 10 years, and are intended to guide investors in developing their long-term strategic asset allocations.