KARACHI: Save for the year 2008, which was a nightmare for the investors in both oil and stocks as each plummeted by 58pc, equities outperformed returns on other asset class in the past 10 years.

Average return from stocks stands at 25pc during the decade, including a return of 27pc in the previous year.

Oil (US benchmark WTI) could have followed as the second best investment but for the dip in prices by 42pc in 2014. Overall, oil investors received a return of 12pc in the 10-year period.

In uncertain times, risk adverse investors usually seek safety of the fixed income or tangible assets. Gold, widely regarded to be investment of choice for the long term, provided returns between 12pc in 2005 and 42pc in 2009, giving an average return of 18pc in the last decade.

But gold too buckled under pressure of supply over demand to end up with negative returns of 20pc in 2013 and 5pc in 2014. As for T-bills, the 10-year average return was 10pc, twice the miserly return of 5pc given out by banks in the same period.