While virtual currencies may have won the debut of the year award for asset classes, of the existing ones the year 2017 goes to equity. In fact, it is the only asset that has given double digit returns during the calendar year. Thanks to events like demonetisation, a lot of Indians have channelled their money into financial assets like equity. According to Karvy Private Wealth’s FY17 report, during the fiscal 2017, individual investments in financial assets jumped 14.63 percent to Rs 2,03,90,576 crore over the previous year. And wealth in physical assets stood at Rs 1,40,09,717 crore, up 5.9 percent from the previous financial year.
This meant that perennial favourites like real estate and gold, lost favour with many.
Here is a look at how various asset classes performed during 2017.
Another physical asset that Indians didn’t take a shine to this year was gold. A big reason was because prices remained high and remained range bound all through the year. It was up just 2.6 per cent. According to data on goldpriceindia.com, it opened the year at Rs 27,445 per 10 gms, touched a high of Rs 30, 428 in September, and as on December 13 it was at Rs 28,159. So, from the January 1 to December 13 the price of gold went up just marginally by Rs 714. The gold funds category was down 0.21 percent, according to data on Value Research. Courtesy- ET