10 Questions with Anne Lester
Anne Lester of J.P. Morgan on meeting goals in a muted market.
Laura Lallos, Morningstar magazine’s managing editor, interviewed Lester in February.
1. What are your return expectations for the next decade?
Our long-term capital market assumptions continue to forecast relatively muted returns. This year, the main drivers of return are positive from a global growth perspective, but given current valuations in both equity and fixed-income markets, our starting point is relatively rich, certainly compared to 10 years ago.