Our expectations for returns, volatilities and correlations. Download the assumption matrix in your chosen currency or use our interactive version.

Our assumptions can be used to:

• Develop or review a strategic asset allocation

• Understand the risk and return trade-offs across and within asset classes and regions

• Assess the risk characteristics of a strategic asset allocation

• Review relative value allocation decisions

The assumptions are not designed to inform short-term tactical allocation decisions. Our assumptions process is carefully calibrated and constructed to aid investors with strategic asset allocation or policy-level decisions over a 10- to 15-year investment horizon.