Credit Suisse Global Investment Returns Yearbook 2018

Credit Suisse

Research

22 Pages

Credit Suisse explores 118 years of asset returns, factor investing, and private wealth trends to frame today’s low return environment. The paper argues low real rates may persist longer than investors expect, while showing equities delivered a 3.4% premium since 1999 despite two bear markets.

Key Takeaways

Lower Future Returns: Across 2,382 country years since 1900, lower real interest rates consistently aligned with weaker future equity and bond returns.
Emerging Markets Lagged: Developed markets compounded at 8.4% annually versus 7.4% for emerging markets from 1900 through 2017.
Factor Boom Risks: Factor based funds surpassed USD 1 trillion in 2017, even as value strategies endured a “lost decade” of disappointing returns.
VIEW FULL REPORT

Join our newsletter to have all of this content + Exclusive Newsletter Bonus Content delivered to your inbox every week

Related Content

Global Macroeconomics
The Divergence Conundrum
Jun 2026
Market Outlooks
Global Equity Mid Year Outlook 2026
Jun 2026
Market Outlooks
2026 Mid-Year Outlook: U.S. Stocks and Economy
Jun 2026

The information contained in this communication is of a general nature for informational purposes only, and does not constitute financial, investment, tax or legal advice. The information contained within this communication reflects the opinions of those referenced herein, and do not reflect the opinions of The Idea Farm, L.P. and its affiliates. Such opinions expressed herein are as of the date of production and are subject to change at any time without notice due to various factors, including changing market conditions or tax laws. Where data or information prepared by third parties is presented, no representation, warranty, or undertaking, expressed or implied, is given to the accuracy or completeness of such information by The Idea Farm, L.P. or any other person. While such sources are believed to be reliable, The Idea Farm, L.P. does not assume any responsibility for the accuracy or completeness of such information and does not undertake any obligation to update the information contained herein as of any future date. Any links to third party websites are offered only for use at your own discretion. The Idea Farm L.P., and its affiliates, are separate and unaffiliated from any third parties listed herein and are not responsible for their products, services, policies or the content of their website. All investments are subject to varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy or product referenced directly or indirectly in this communication will be profitable, perform equally to any corresponding indicated historical performance level(s), or be suitable for your portfolio. Past performance is not an indicator of future results.

Scroll to Top