The S&P/ASX 200 Index returned 2.7 per cent in price terms last financial year. Add dividends and the accumulation index reached 6.3 per cent. While that is respectable on face value, it is deeply insufficient when set against the structural risks that investors are now being asked to absorb.The headline number conceals more than it reveals. What it conceals is becoming harder to ignore.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
Why the last financial year may have been a warning for ASX investors
The S&P/ASX 200 Index returned 2.7 per cent in FY26, but the headline number conceals more than it reveals. What it conceals is becoming harder to ignore.
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