Where you should have been invested in 2011

Investors should have been buying portfolios of gilts, treasuries and bunds, as well as commodities, while avoiding major indices, to maximise returns in 2011.

A global sell-off of risk assets since the summer, sparked by the eurozone crisis, has caused major indices to plunge, prompting investors to pile into the few safe havens left standing.

Data compiled for Investment Week shows both gilts and treasuries, as well as bunds, have delivered double-digit total returns since the start of the year, while most major equity markets have declined.

Below we reveal some of the top performing assets, and those you should have avoided, so far in 2011 (all data compiled between 31.12.10 - 18.11.11 by Morningstar and Fidelity).

10-yr UK gilts total return (£): 15.47%

10-yr German bunds total return (£): 12.08%

10-yr US treasuries total return: ($) 14.44%

And a few government bonds to avoid:

10-yr Italian government bonds total return (£): -8.65%

10-yr Greek bond (2022 issue priced at 5.9%): -53.5%

10-yr Spanish bond (2020 issue priced at 4.85%): -1.5%

Commodities:

Gold (London fix, in $): 22.93%

Oil, Brent Crude ($): 13.46%

Equities:

Dow Jones Industrial Average: 3.43%

S&P 500: -2.38%

Paris CAC 40: - 18.17%

German DAX: -16.15%

FTSE 100: -6.04%

FTSE All Share: -6.82%

Hong Kong Hang Seng: -21.81%

Nikkei 225: -14.38%