Morningstar’s asset class 'gameboard' for 2015 is an excellent visual summary of how each asset class has performed over the last 20 years, and shows that no single asset class consistently outperforms the others. It also gives no hint into how the previous year's winners or losers will perform in the following year as the pattern appears random.
Click on the gameboard for an enlarged version. In case the fine print is a little too fine, here are the underlying data sources:
- Cash - RBA Bank accepted Bills 90 Days
- Fixed Interest - UBS Composite 0+ Yr TR AUD
- Fixed Interest (Hedged) - BarCap Global Aggregate TR Hdg AUD
- A-REITs - S&P/ASX 300 A-REIT TR
- Equity - S&P/ASX 200 TR
- Small Caps - S&P/ASX Small Ordinaries TR
- Equity - MSCI World Ex Australia NR