Shares, Bonds, Treasury Notes, Property Trusts and Inflation: Historical Returns and Risks, 1974-1985

Ray Ball () and John Bowers
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John Bowers: The Australian Graduate School of Management, University of N.S.W.

Australian Journal of Management, 1986, vol. 11, issue 2, 117-137

Abstract: Historical mean returns and risk measures are presented for four classes of assets, in both nominal and inflation-adjusted for M. Over the period 1974–85, Australian stocks and property earner appreciably more than inflation, whereas Government securities earned a zero or very low real rate of return. Equity returns were of course much riskier than bond returns, and property was more like equity than fixed interest securities in terms of risk. All four classes of investment assets were poor hedges against inflation.

Keywords: AUSTRALIA; STOCK RETURNS; BOND RETURNS (search for similar items in EconPapers)
Date: 1986
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Persistent link: https://EconPapers.repec.org/RePEc:sae:ausman:v:11:y:1986:i:2:p:117-137

DOI: 10.1177/031289628601100201

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