Credit Suisse explores over a century of global asset returns, focusing on ESG investing, long-term performance, and factor strategies across 23 markets. It challenges the assumption that ESG screening boosts returns, arguing active engagement matters more, while highlighting that equities delivered 7.6% real returns over the past decade despite structural economic shifts.
Summary Edition Credit Suisse Global Investment Returns Yearbook 2020
Credit Suisse
Elroy Dimson
Research
48 Pages
Key Takeaways
Equity Returns Resilience: Global equities delivered 7.6% annualized real returns over the last decade, outperforming bonds at 3.6% despite historically low interest rates.
ESG Strategy Limits: Passive ESG screening shows limited performance impact, while active ownership and engagement approaches are positioned as more effective drivers of returns across studied markets.
Market Evolution Shift: Over 80% of US market value from 1900 came from now-declining industries, underscoring long-term sector turnover and the importance of adaptability in portfolio construction.
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