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5-year Expected Returns
2021-2025

5-year Expected Returns

Brave real world

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Peter van der Welle

With ultra-low nominal interest rates and significantly negative real interest rates for longer, the brave real world is a paradoxical one, with risky safe havens.

Peter van der Welle, Multi-Asset Strategist

5-year return forecast

EUR
USD
Base
Growth
Covid


Our 5-year Expected Returns includes:

  • The expected returns for all major asset classes for the 2021-2025 period
  • Analysis of market valuations and macro scenarios
  • Five special topics
  • Watch the full recording of our digital Expected Returns 2021 – 2025 event

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

Special topics

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

Special topics

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

Money for nothing, inflation not guaranteed
Money for nothing, inflation not guaranteed
The massive stimulus to restart economies following the Covid-19 crisis isn’t likely to trigger inflation, say Bob Stoutjesdijk, Rikkert Scholten and Martin van Vliet of Robeco’s Global Macro team.
05-10-2020 | Visie
Carbon pricing, asset allocation and climate goals
Carbon pricing, asset allocation and climate goals
Assessing carbon risk in portfolios is a difficult but necessary task for investors.
12-10-2020 | Visie
Trends investing: finding the winners among skewed equity returns
Trends investing: finding the winners among skewed equity returns
A tiny proportion of stocks account for most of the market’s returns.
Visie
Interest rates – don’t be so negative
Interest rates – don’t be so negative
How fashionable will negative interest rates be in five years’ time?
Visie
Factor investing – going beyond Fama and French
Factor investing – going beyond Fama and French
There is more to factor investing than the standard academic factors, says Head of Quant Research David Blitz.
Visie

The Executive Summary

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Leave your details and download our Expected Returns 2021-2025

Download our new 5-year outlook (109 pages)

‘Brave real world’

Find out what our expected returns for all major asset classes are.


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