Facix the dog of Asia

Have you ever noticed that if you invert the word ægodÆ you get ædogÆ. Well, in the case of our Facix index this inversion is certainly true.

When we constructed the Finance Asia Composite Internet Index Facix at the start of the year, the internet bestrode the investment firmament like a god. Our index began the year at 1000 and saw some heady times. It contains 57 stocks, although the weighting is skewed towards big stocks such as PCCW.

Today, it is a dog definitely not a god and heaven help any investor who sought to track it. Today the index is at 172 and...

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