The young man had an annoyed look on his face and, motioning with his index finger, he summoned the women to a corner in the room.

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They are portfolios that must be continuously maintained by real people who face difficult issues when trying to track an index.

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The Vanguard FTSE Emerging Markets ETF (VWO) is undergoing a face-lift as it transitions from its MSCI emerging markets index to a FTSE emerging markets index.

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And buyers of index-linked bonds have protection against deflation, since they will always be redeemed at their face value or higher.

ECONOMIST: A very unusual sign of confidence in economic policy