Table 5 Estimation of expected return by...

Table 5

Estimation of expected return by asset classes

(Unit: %)
Year	Domestic stock	Foreign stock	Domestic bond	Foreign bond	Alternative investment
2011	6.40	6.31	3.96	5.15	5.57
2012	7.60	7.08	3.91	4.73	5.89
2013	2.97	3.94	3.36	4.36	4.36
2014	3.85	4.87	3.19	5.21	4.90
2015	3.29	4.33	2.53	3.77	4.32
2016	3.64	4.39	1.95	3.32	4.30
2017	5.24	5.06	1.97	2.99	4.70
2018	3.44	3.72	2.57	1.90	4.00
2019	4.73	4.74	2.14	2.42	4.34
2020	5.41	4.86	1.69	1.66	4.47

(Unit: %)
Year	Domestic stock	Foreign stock	Domestic bond	Foreign bond	Alternative investment
2011	6.40	6.31	3.96	5.15	5.57
2012	7.60	7.08	3.91	4.73	5.89
2013	2.97	3.94	3.36	4.36	4.36
2014	3.85	4.87	3.19	5.21	4.90
2015	3.29	4.33	2.53	3.77	4.32
2016	3.64	4.39	1.95	3.32	4.30
2017	5.24	5.06	1.97	2.99	4.70
2018	3.44	3.72	2.57	1.90	4.00
2019	4.73	4.74	2.14	2.42	4.34
2020	5.41	4.86	1.69	1.66	4.47

Note(s): This table shows the expected rate of return for each asset class determined by adding various spreads or risk premiums to economic indicators projected by the VAR model

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