J.P. Morgan Asset Management’s (JPM) fourth annual Global Alternatives Outlook report discusses the current state of the economy and JPM’s perspectives on fundamental alternative investment classes, including hedge funds, private credit, private equity, real assets and real estate. This article highlights JPM’s views and predictions, with additional insights from David Lebovitz, Global Market Strategist at J.P. Morgan Asset Management. For coverage of prior JPM reports, see “JPM Global Alternatives Outlook Promotes Alternatives As Essential to ‘Alpha, Income and Diversification’” (Mar. 4, 2021); and “JPM Report Identifies Opportunities for Hedge Funds, PE and Other Alternative Investments” (Mar. 5, 2020).