February 2022 / MULTI-ASSET OUTLOOK
Capital Market Assumptions
In-depth analysis and insights to inform your decision-making.
The T. Rowe Price 5-Year Capital Market Assumptions were calculated based on data as of December 31, 2021.
CMAs are best understood as forecasts for the central tendency of forward returns. They do not seek to predict actual or realized returns, as there is bound to be material variation around this central tendency for any given historical or future period. For this reason, T. Rowe Price's approach to portfolio construction relies on the use of multiple methods of optimization and robustness checks.
Current tactical positioning in our Multi-Asset strategies is available in our Global Asset Allocation Viewpoints monthly publication.
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