Mare, Eben2019-03-142019-03-142018-07-30Maré E. A note on equity returns for South African investors. South African Journal of Science 2018;114(7/8), Art. #a0276, 2 pages. http://dx.DOI.org/ 10.17159/sajs.2018/a0276.0038-2353 (print)1996-7489 (online)10.17159/sajs.2018/a0276http://hdl.handle.net/2263/68658On a historical basis, South African equity markets have outperformed inflation significantly. Using returns from the 2016 version of the Credit Suisse Global Investment Sourcebook1, I observe that over the period 1900 to 2015, the annualised real return (i.e. returns adjusted for inflation) for South African equities was 7.3% compared to 1.8% for bonds and 1.0% for shorter-term bills. I compare these returns with US annual real returns of 6.4% for equities, 2.0% for bonds, and 0.8% for bills over the same period.en© 2018. The Author(s). Published under a Creative Commons Attribution Licence.EquitiesEarningsVolatilityRiskReal returnRisk adjusted returnsSouth African investorsArticle