Equity Investments II
Reading 39. Overview of Equity Securities
Learning Outcome Statements
a. describe characteristics of types of equity securities;
CFA Curriculum, 2020, Volume 5
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Subject 1. Equity Securities in Global Financial Markets
Global equity securities have offered an average annualized real return of 5% based on historical data, while the average annual real return is about 1% or 2% for government bills and bonds. However, equity securities are more volatile than government bills and bonds. They represent a key asset class for global investors because of their unique return and risk characteristics.