In this note, we outline a framework for estimating expected returns on equities, government bonds, and corporate bonds. We combine estimates of expected returns across asset classes in developed markets to obtain the expected return on a multi-asset portfolio that approximates the benchmark index of the Government Pension Fund Global (GPFG).
Norges Bank Investment Management
Discussion Note;1/2022 Diskusjonsnotater;1/2022
Except where otherwise noted, this item's license is described as Attribution-NonCommercial-NoDerivatives 4.0 Internasjonal