摩根资管发布长线策略 看好中国A股长期回报前景

Core Insights - Morgan Asset Management has released its "2026 Long-Term Capital Market Assumptions" report, marking the 30th consecutive year of publication, maintaining a steady outlook for asset returns despite global market volatility [1] - The report forecasts a 7.7% annualized return for Chinese A-shares in USD over the next 10-15 years, driven by economic resilience, stronger shareholder return policies, and potential valuation upside [1] Group 1: Long-Term Return Projections - The long-term return outlook for Chinese A-shares is positive, with an expected annualized return of 7.7% in USD over the next 10-15 years [1] - Key drivers for this optimistic outlook include the resilience of economic growth, profit growth, and the gradual clarification of risk factors [1] - Enhanced shareholder return policies, such as encouraging share buybacks and strengthening cash dividends, are expected to support long-term returns for A-shares [1] Group 2: Asset Allocation Strategies - Incorporating alternative assets into investment portfolios has become an effective way to enhance returns, reduce volatility, and significantly improve the Sharpe Ratio [2] - The global public fund market remains optimistic about long-term return prospects, supported by corporate profit resilience and technological innovation [2] - Notable governance reforms in East Asian markets, including China and South Korea, are improving capital returns by aligning corporate strategies with shareholder interests [2]