News about portfolio allocation

J.P. Morgan's 2027 Long-Term Capital Market Assumptions project a 10% compound annualized return for Bitcoin over the next 10 to 15 years, ahead of U.S. large-cap equities at 7.5% and gold at 5.5%. The firm introduced a return range for Bitcoin for the first time but explicitly did not include it as an allocation. The article attributes the gap between the 10% compound and 20.9% arithmetic return to volatility drag, noting Bitcoin's 55% annualized volatility versus roughly 18% for U.S. large caps. The firm now forecasts 7.0% for a 60/40 portfolio and 5.3% for global aggregate bonds, the highest in two decades. Developed-market equities are projected to overtake emerging markets for the first time, driven by U.S. large-cap profit margins above 15%.

J.P. Morgan's 2027 Long-Term Capital Market Assumptions, its 31st edition, projects Bitcoin at a 10% compound annualized return over the next 10 to 15 years, above US large-cap equities at 7.5% and gold at 5.5%. The firm stresses this is 'permission to look, not permission to buy': Bitcoin's 20.9% arithmetic return and 55% annualized volatility (versus roughly 18% for US large-caps) make it only comparable to gold on a volatility-adjusted basis, keeping it outside core allocation models. The 60/40 balanced portfolio is forecast at 7.0%, while global aggregate bonds have risen to 5.3%, the highest in two decades. Developed market equities overtake emerging markets for the first time, driven by US large-cap profit margins above 15%. J.P. Morgan Asset Management, with $4.8 trillion in AUM as of September 30, 2026, draws on more than 90 professionals for the research.

J.P. Morgan's 2027 LTCMA projects Bitcoin at a 10% compound annualized return over 10 to 15 years, ahead of US large-cap equities at 7.5% and gold at 5.5%. The firm frames this as 'permission to look, not permission to buy': a 20.9% arithmetic return and 55% annualized volatility (versus roughly 18% for US large-caps) put Bitcoin on par with gold only on a volatility-adjusted basis. The 60/40 balanced portfolio is forecast at 7.0%, while global aggregate bonds rise to 5.3%, the highest in two decades. On the same day, J.P. Morgan deployed JPM Coin on Ethereum mainnet for institutional clients, and the article argues that including Bitcoin shows the report as a map of a changing financial world rather than a mandate for allocation.

J.P. Morgan's 2027 Long-Term Capital Market Assumptions, its 31st edition, projects Bitcoin at a 10% compound annualized return over 10 to 15 years, ahead of US large-cap equities at 7.5% and gold at 5.5%. The firm stresses 'permission to look, not permission to buy': Bitcoin's 20.9% arithmetic return and 55% volatility make it comparable to gold only on a volatility-adjusted basis, keeping it out of allocation models. The 60/40 balanced portfolio is forecast at 7.0%, and global aggregate bonds rise to 5.3%, the highest in two decades. Developed market equities overtake emerging markets for the first time, driven by US large-cap margins above 15%, and the research draws on more than 90 professionals covering more than 200 assets. J.P. Morgan Asset Management manages $4.8 trillion as of September 30, 2026.