‘Next decade returns will lag the past decade,’ Kunal Kapoor Morningstar Global CEO

Future returns in the next decade across asset classes and regions will lag the returns we’ve experienced in the past decade, believes Morningstar Global CEO Kunal Kapoor. He tells Ananya Grover that investors should stick to simple, long-term, and diversified portfolios. Excerpts:

Are you expecting the India-US deal to finalise and if it is already priced in the market?

I have no idea but for most investors, ten years from now, they won’t even remember that this was something that happened in 2025. This can lead to variations in the market and impact portfolios in the short run but most people should not care about them. Investing is about the long game and the best thing I can tell most people is go on a vacation versus worrying about tariffs. We won’t really know what the impacts are