After another year of strong returns for U.S. equities in 2021, Morningstar Indexes believes a selective investment approach makes sense in the face of elevated valuations.

The Morningstar PitchBook Developed Markets Listed Private Equity Index has risen nearly 50% year-to-date through the end of October 2021, compared to 20% for its public market index equivalent.

Global inflation fears drove investor interest in TIPs and long bonds in October, reflected in strong gains for the Morningstar US TIPS & US 10+ Year Treasury Bond Index.