On an annual basis, BNY Mellon Investment Management develops capital market return assumptions for approximately 50 asset classes around the world.

The assumptions are based on a 10-year investment time horizon and are intended to guide investors in developing their long-term strategic asset allocations. The capital market assumption team consists of more than 30 investment professionals including investment strategists, economists, financial advisors, manager research specialists and portfolio managers.

We developed the initial baseline assumptions using general market expectations and consensus data. The assumptions were then adjusted to reflect views and potential dislocations in global markets, based on research from across BNY Mellon Investment Management.

To read our forecasts for the next 10 years, download our "Calendar Year 2018 10-Year Capital Market Return Assumptions" (PDF).