Advisor Insights

10 Questions with Anne Lester

Laura Lallos

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.