30-year return forecasts (2021–50): Part 2

Overall, accounting for climate change, equities are still expected to outperform other asset classes over the next 30 years. On a regional basis, emerging equities are expected to outperform most developed equity markets. Meanwhile, our forecasts suggest that credit and property will still deliver better returns than sovereign bonds. Furthermore, the return gap between sovereign bonds and equities has widened since last year. So investors will still need to move up the risk curve in s