wpa - if you strip the heavily overweight mining sector out of the index, the overall performance has been not too bad.
Mind you, when the cap weight of say BHP goes down, the money has to be re-allocated to fit the 'revised' weightings. Hence other sectors get bought up based on the re-allocation. So it's not totally based on fundamentals.
The Oz index being heavily overweight mining and banking, compared to say the S&P500 means that in times when those sectors are not performing (such as now) the index struggles overall.
Cheers,
Peggs.
donz't hold never have but.., page-11
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