Major Advisors Lower Their Long-Term Investment Return Outlooks, Curbing Public Pension Plans’ Enthusiasm

J.P. Morgan Asset Management lowered its 10-to-15 year outlook for investment returns compared to last year’s report. In February 2017, we highlighted J.P. Morgan Asset Management’s (JPAM’s) long-term return projections for a U.S dollar-based 60 percent equity/40 percent bond aggregate portfolio, which was about 5.50 percent to 6 percent. This