Asset Class Returns for Private Clients and Trusts

Asset Class Benchmark Annualised Return
United Kingdom
Agricultural Land Knight Frank Farmland Index 6.29%
Residential property (London Prime Central) UK House Price Index 4.37%
UK Equities FTSE All-Share 6.28%
Residential property (UK) UK House Price Index 2.95%
Government Bonds Markit iBoxx GBP Gilts 2.65%
Commercial property MSCI UK IMI Liquid Real Estate 2.54%
Global
Private Equity Blended Index* 13.09%
Gold Bloomberg Gold SubIndex 10.02%
Equities MSCI ACWI in GBP 9.40%
Fine Art Art Market Research 6.60%
Government Bonds iShares $T-Bills 1-3yr UCITS ETF GBP 3.77%
Commodities S&P GSCI -1.71%

* An average has been used, utilising data from Cambridge Associates indices for US and ex US Developed Markets (March 2025), and the British Private Equity and Venture Capital Association (BVCA) Performance Measurement Study (December 2024)

– All other data runs from 30/06/2006 to 30/06/2025

 

We are pleased to present the results of our second annual Asset Class Returns Study. We have conducted an in-depth research study analysing the historical returns of various asset classes over the last 19 years, both within the UK and globally. The findings provide valuable insights into how different asset types, such as equities, bonds, and real estate, have performed over time. One of the key takeaways from the study is the critical role diversification plays in achieving long-term financial success. By spreading investments across a range of assets and geographies, investors can better manage risk and enhance their portfolio’s potential for growth. This research underscores the importance of a well-balanced strategy in navigating the complexities of today’s global markets.

We remain committed to updating and publishing this study annually, bringing you the latest insights into the evolving world of capital markets. By keeping you informed with data-driven analysis, we aim to help investors make well-informed decisions in an ever-changing investment landscape.