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5-year Expected Returns

2019-2023

Patience is a virtue

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In our 116-page outlook, we present our forecasts for the 5-year Expected Returns for all major asset classes.


Return on developed market equities

4.00%

Return on emerging market equities

4.50%

Return on Euro Government Bonds

-1.25%

Annual returns denominated in euros

With valuations for every major asset class looking stretched, a transition to the next phase could easily send markets into a tailspin. So, what should investors do?

Our 5-year Expected Returns includes:

  • The expected returns for all major asset classes for the 2019-2023 period
  • Analysis of market valuations and scenario analysis
  • Five special topics

For the outlook on long-term steady-state returns, read our Long-Term Expected Returns.

Last year's publication won the Best Asset Allocation Paper 2017 award
Bart Oldenkamp

Expected returns play a vital role in an investor’s strategic decision-making. With this publication, we aim to help investors with their strategic asset allocation and asset liability management.

Bart Oldenkamp, Head of Robeco Investment Solutions

Special topics

In this section we address five questions faced by professional investors.

More

Special topics

In this section we address five questions faced by professional investors.

More
The potential rewards of diversifying away from US Equities
The potential rewards of diversifying away from US Equities
A perpetual problem for investors is deciding what assets to allocate to.
15-10-2018 | 5-Year outlook
Oil will have to be written off at some point. But not yet!
Oil will have to be written off at some point. But not yet!
Stranded assets do not currently threaten the prosperity of oil companies, which still have a role to play in portfolios, says Chief Economist Léon Cornelissen.
22-10-2018 | 5-Year outlook
All roads lead to Rome but few lead to Italian debt sustainability
All roads lead to Rome but few lead to Italian debt sustainability
It was a warning made two and a half centuries ago – but it has stood the test of time.
29-10-2018 | 5-Year outlook
Bond. Corporate Bond
Bond. Corporate Bond
What should and should not be included in strategic asset allocation is a hotly debated topic.
05-11-2018 | 5-Year outlook
Time to get defensive?
Time to get defensive?
It’s one of the best-known acronyms in finance – and it remains a good indicator of where stocks might go.
12-11-2018 | 5-Year outlook

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This website has been carefully prepared by Robeco. The information contained in this publication is based upon sources of information believed to be reliable. Robeco is not answerable for the accuracy or completeness of the facts, opinions, expectations and results referred to therein. Whilst every care has been taken in the preparation of this website, we do not accept any responsibility for damage of any kind resulting from incorrect or incomplete information. This website is subject to change without notice. The value of the investments may fluctuate. Past performance is no guarantee of future results. If the currency in which the past performance is displayed differs from the currency of the country in which you reside, then you should be aware that due to exchange rate fluctuations the performance shown may increase or decrease if converted into your local currency. For investment professional use only. Not for use by the general public.

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