Thesis (M.M. (Finance & Investment))--University of the Witwatersrand, Faculty of Commerce, Law and Management, Graduate School of Business Administration, 2013. / This study aims to make a contribution to the better understanding of the role commodities
play in a portfolio, specifically in a South African investment portfolio. It considers the
interactions between a fully collateralised commodity index and South African equities,
bonds, property and cash. The study uses historical data to asses if commodities provide
addition benefits to an investment portfolio, namely, additional returns, diversification and as
an inflation hedge. The analyses used in this study are performance analysis, correlation
studies and portfolio optimisation. Based on the evidence presented in this study we show
that there were some benefits to adding commodities to a South African investment portfolio,
namely, using commodities to diversify a portfolio and as an inflation hedge. However,
commodities did not provide sufficiently large enough returns to justify their high volatility and
as such would not be an appropriate stand alone investment in the South African context.
| Identifer | oai:union.ndltd.org:netd.ac.za/oai:union.ndltd.org:wits/oai:wiredspace.wits.ac.za:10539/13490 |
| Date | 16 January 2014 |
| Creators | Rodrigues, Jason Ross |
| Source Sets | South African National ETD Portal |
| Language | English |
| Detected Language | English |
| Type | Thesis |
| Format | application/pdf |
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