Abstract:

This paper identifies and estimates the influence of factors known to influence the return on stock-bond portfolios in Nigeria. Via the use of a questionnaire survey, data was retrieved from the top thirty stock brokerage firms in Nigeria between 2006 and 2015. A response rate of 57percent was achieved and same was subjected to multiple regression based on pre-market and post-market crash periods. Findings revealed that during the pre-market crash era, global oil prices, Nigerian political outlook, foreign direct investment, militancy and investor knowledge positively influenced equity returns. Also, infrastructural collapse and despair of local investors were found indirectly proportional to pre-market crash returns. During the post market crash era, factors found to negatively influence equity returns were infrastructural collapse, inflation rate, government monetary policies, global oil prices, withdrawal of foreign investments, return on investment, handicapped regulators, transition in government and exchange rate. Increased return on bond was influenced by inflation during the post market crash era and same was influenced by yield, interest rate and credit rating. The study concluded that influence on return differed as investment periods differ. Finally, portfolio managers were urged to understand the factors influencing the return attendant to investment options per-time before asset combination.