14. As an accountant you have a client who does not like to take very much risk with their investments. They have some money to invest, and they ask you to tell them your thoughts on which asset classes are the least risky through to those that are most risky. They are ONLY considering investments in Property, Shares or Bonds.

a. From what you know about the relative historical risks of these investments and their returns. Which asset class should they put their money into given their risk preference.

From you understanding of the investment markets, what general rule could they later use to reduce the risk of their portfolio