Kev Toohey, Principal at Atchison presents his analysis of returns for major investment asset classes over the last 12 months.

• July 2022 saw an almost mirroring of May and June, as equities participated in a relief rally and interest rates fell.
• Small caps and AREITs are prime examples of a July reversal.
• The chart really illustrates the lack of asset classes that have posted monthly returns above the rate of inflation over the last 12 months.
• After trending on top of the list for the first 4 months of 2022, commodities have successively trended down to the last position in July.

The below chart is an analysis of returns for major investment asset classes over the last year.