Seven-year planning ranges
These ranges are governance inputs, not point forecasts. Committees should test contributions under multiple combinations before approving a strategic allocation.
| Asset | Nominal return | Volatility | Role |
|---|---|---|---|
| Global equity | 6.0-8.0% | 15-19% | Growth |
| Investment-grade bonds | 4.0-5.5% | 5-8% | Income |
| Infrastructure | 6.0-8.5% | 10-14% | Inflation defense |
| Private credit | 6.5-8.0% | 7-11% | Contractual income |
Approval rule
A change requires an updated evidence memo, risk contribution check and named review date.
Model limitation
Ranges do not include tax, transaction costs, manager dispersion or client-specific currency hedging.
Public facts are linked to primary sources. Portfolio weights and return assumptions are illustrative.