Investors shouldn't be scared off by slower economic growth caused by higher-for-longer interest rates and inflation, according to JPMorgan Asset Management (JPMAM).
For reference, JPMAM called for forward long-term returns of 4.3% in 2021.
The firm added that productivity gains from AI will likely add a tenth of a percentage point to global growth in the next decade.
The long-awaited reversal for international stocks won't happen overnight, JPMAM strategists said.
The firm is highly optimistic about the asset class after its brutal multi-year selloff and expects 4.6% and 5.1% long-term returns for those groups, respectively.
Persons:
it's, JPMAM, David Kelly, Kelly, Monica Issar, Grace Koo, —, they're, Bob Michele, who's, he's, Bonds, REITs
Organizations:
Asset Management, Federal Reserve, European Central Bank, US, JPMorgan, Management, Fed, JPMorgan Asset Management, Investors
Locations:
Europe, Australasia, Real