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HOME INVESTMENT SECTORS AUSTRALIAN SHARES versus BALANCED PORTFOLIO DIRECT PROPERTY versus AUSTRALIAN SHARES BALANCED PORTFOLIO versus SALARY INDEX AUSTRALIAN SHARES versus LISTED PROPERTY FIXED INTEREST versus CASH BOND RATES versus BILL RATES AUSTRALIAN SHARES versus INT SHARES AUS INTEREST versus INT INTEREST CASH versus INFLATION BALANCED versus CAPITAL STABLE AUS SHARES versus FIXED INTEREST AUS INVESTMENT PERFORMANCE 1960 - 2005 CONTACT |
Australian Investment Performance 1960 to 2005 After publishing a series of SuperMail articles, comparing long-term performance of two Australian investment sectors, Colin Grenfell, Superannuation consultant, Actuary and Associate Director of SuperEasy, has now written a paper on the topic. Hundreds of articles about investment performance are published regularly in Australia with ever-increasing frequency. Often they cover just ordinary shares or pooled funds and sometimes they cover a limited range of investment sectors. The performance usually relates to the last few months or last year, sometimes the last 3 or 5 years, very occasionally the last 10 or 20 years. Mr Grenfell's latest paper, "Australian Investment Performance 1960 to 2005" is an unique document, covering 45 years (or 179 quarters) of Australian Investment performance. The paper was presented to the Institute of Actuaries of Australia (IAAust), at the 2005 Biennial Convention, held from 8 May - 11 May 2005, in Cairns. Herewith, we are bringing some excerpts from Mr Grenfell's paper: "The objective of this paper was to help bridge the gap between the demand from actuaries (and consumers) for robust assumptions in respect of future investment returns across a broad range of investment sectors, and the limited supply of data readily available for a range of investment sectors." "The advent of unit price data in Australia 40 years ago, through National Mutual's "EFG" system, provided both the inspiration for this paper and a substantial database of investment performance statistics, across a broad range of investment sectors." "The paper developed and summarized assumptions sets for medium to long-term use in stochastic investment models, across the range of investment sectors and economic indicators that were examined. In determining those assumptions, the paper has illustrated techniques for 'backdating' incomplete data series for use, particularly, with cross-correlation and autocorrelation analyses." The analysis covers eleven investment classes plus four financial indicators:
For each of these 15 "sectors" the annualised average results are tabulated and summarised for:
Investment Assumptions
Click on the link below to download the paper (PDF):
Australian Investment Performance 1960 to 2005 |
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SuperEasy Pty Ltd is not licensed to provide advice on investments, or legalities of the types of investments that you can have. SuperEasy® strongly recommends that you seek professional advice before making any investment choice or decision! |
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