PORTFOLIO OF FINANCIAL ASSETS

FIELD OF THE INVENTION

The present invention relates broadly to a method of providing a customised numerical index associated with a portfolio of financial assets.

BACKGROUND OF THE INVENTION

There exist stock market indices, such as the S&P ASX 200 index or the Hang Seng index, which provide an indicator of the performance of stock markets. There also exist industry- oriented indices, such as the NASDAQ index that reflects the performance of technology stocks in the US, which provide an indicator of the performance of particular sectors of the stock markets.

These common indices depend on predetermined stocks. However, investment portfolios held by individuals or investment funds seldom mimic entirely the portfolio of these predetermined stocks. These common indices may therefore not be the most relevant performance indicators to individuals or funds managers.

SUMMARY OF THE INVENTION

According to one aspect of the invention there is a method of providing a customised numerical index associated with a portfolio of selected financial assets, the method comprising the steps of:

receiving a plurality of identifiers associated with the portfolio of selected financial assets;

retrieving respective prices associated with the plurality of identifiers;

determining the customised numerical index based at least partly on the retrieved prices; and

causing the customised numerical index to be displayed.

According to another aspect of the invention there is a method of providing a customised numerical index associated with a portfolio of selected managed funds, the method comprising the steps of:

receiving a plurality of identifiers associated with the portfolio of selected managed funds;

retrieving respective prices associated with the plurality of identifiers;

determining the customised numerical index based at least partly on the retrieved prices; and

causing the customised numerical index to be displayed. According to yet another aspect of the invention there is a method of providing a customised numerical index associated with a portfolio of selected financial assets of different types, the method comprising the steps of:

receiving a plurality of identifiers associated with the portfolio of selected financial assets of different types;

retrieving respective prices associated with the plurality of identifiers;

determining the customised numerical index based at least partly on the retrieved prices; and

causing the customised numerical index to be displayed.

Preferably the different types of financial assets include a first type and a second type of financial assets each including any one type of stocks, managed funds, real estate, interest- bearing assets, superannuation, bonds, commodities and derivatives.

Preferably the method further comprises the step of comparing the numerical customised index with a benchmark index or a standard index. More preferably the step of comparing the customised numerical index with the benchmark or the standard index includes determining risk associated with the customised numerical index, the risk being relative to that of a benchmark index or a standard index.

Preferably the step of determining the customised numerical index includes the step of assigning respective weights to the plurality of identifiers. More preferably the step of assigning the respective weights to the plurality of identifiers includes the step of receiving the respective weights for assignment to the plurality of identifiers. Alternatively the step of assigning the respective weights to the plurality of identifiers includes the step of determining the respective weights, based on the respective prices, for assignment to the plurality of identifiers. Still alternatively the step of assigning the respective weights to the plurality of identifiers includes the step of determining the respective weights, based on respective market capitalisation, for assignment to the plurality of identifiers. Yet still alternatively the step of assigning the respective weights to the plurality of identifiers includes the step of determining the respective weights, based on absolute or relative quantities, purchase costs or market values of the respective selected financial assets within the portfolio, for assignment to the plurality of identifiers.

Preferably the step of determining the customised numerical index includes the step of determining the sum, mean, median or any other statistical measurement of the retrieved prices. More preferably the step of determining the customised numerical index includes the step of determining the weighted sum or weighted mean of the retrieved prices, based on the respective weights assigned to the plurality of identifiers.

Preferably the step of receiving the plurality of identifiers includes the step of receiving the plurality of identifiers from a networked device. More preferably the step of receiving the plurality of identifiers from the networked device includes the step of receiving the plurality of identifiers from the networked device via a communications network and/or the Internet.

Preferably the step of retrieving the prices includes the step of retrieving the prices from a market data system. Preferably the step of causing the customised numerical index to be displayed includes causing the customised numerical index to be displayed on the networked device.

Alternatively the step of causing the customised numerical index to be displayed includes the step of causing the customised numerical index to be displayed on a display device.

Preferably the step of retrieving the respective prices associated with the plurality of identifiers includes retrieving the respective current prices associated with the plurality of identifiers.

More preferably the step of determining the customised numerical index includes the step of determining the current value of the customised numerical index based on the retrieved current prices.

Alternatively or additionally the step of retrieving the respective prices associated with the plurality of identifiers includes retrieving respective historical prices associated with the plurality of identifiers. More preferably the step of determining the customised numerical index includes the step of determining one or more historical values of the customised numerical index based on the retrieved historical prices.

Preferably the step of retrieving the respective prices includes the step of retrieving respective income-adjusted prices. More preferably the step of retrieving respective income-adjusted prices includes the step of retrieving respective dividend-adjusted prices.

Alternatively the method further comprises the steps of:

retrieving respective income information associated with the plurality of identifiers; and

adjusting the retrieved prices based at least partly on the retrieved income information.

Preferably the step of retrieving respective income information includes the step of retrieving respective dividend information. More preferably the step of adjusting the retrieved prices based at least partly on the retrieved income information includes the step of adjusting the retrieved prices based at least partly on the retrieved dividend information.

Preferably the step of causing the customised numerical index to be displayed includes the step of causing the current value of the customised numerical index to be displayed.

Alternatively or additionally the step of causing the customised numerical index to be displayed includes the step of causing the one or more historical values of the customised numerical index to be displayed. Preferably the step of causing the customised numerical index to be displayed includes the step of causing the customised numerical index in a graphical display to be displayed.

Alternatively the step of causing the customised numerical index to be displayed includes the step of causing the customised numerical index to be displayed in tabular form. Preferably the step of determining the customised numerical index includes determining the customised numerical index based on the respective weights assigned to the plurality of identifiers.

Preferably the step of receiving the plurality of identifiers includes the step of receiving any one or more of stock names, stock symbols, fund names, fund codes and commodity names identifying the portfolio of selected financial assets.

Preferably the method further comprises the step of determining a technical indicator for the customised numerical index. More preferably the step of determining the technical indicator includes the step of determining a moving average of the customised numerical index. More preferably the step of determining the moving average of the customised numerical index includes determining a 50 day moving average. Alternatively or additionally the step of determining the moving average of the customised numerical index includes determining a 200 day moving average.

Preferably the step of determining the technical indicator includes the step of determining one or more trend lines for the customised numerical index. Preferably the step of determining the technical indicator includes the step of determining an advance line and/or a decline line for the customised numerical index.

Preferably the step of determining the technical indicator includes the step of determining the swing indicator.

Preferably the step of determining the technical indicator includes the step of determining a risk indicator. More preferably the step of determining a risk indicator includes the step of determining risk associated with the portfolio of selected financial assets, the portfolio of selected managed funds or the portfolio of selected financial assets of different types.

Preferably the method also comprises the step of causing the technical indicator to be displayed. More preferably the step of causing the technical indicator to be displayed includes the step of causing the technical indicator to be displayed in the graphical display.

Alternatively the step of causing the technical indicator to be displayed includes the step of causing the technical indicator to be displayed in tabular form.

Preferably the method also comprises the step of comparing the customised numerical index with a predetermined index. More preferably the step of comparing the customised numerical index with the predetermined index includes the step of causing the current and/or historical values of the customised numerical index and the current and/or historical values of the predetermined index to be displayed.

Preferably the method also comprises the step of creating a user account associated with the customised numerical index. More preferably the step of creating the user account includes the step of associating the plurality of identifiers with the user account.

Preferably the method also comprises the step of storing the one or more historical values of the customised numerical index. More preferably the step of storing the one or more historical values of the customised numerical index includes the step of associating the one or more historical values of the customised numerical index with the user account. Preferably the method further comprises the step of receiving information associated with capital inflow and/or outflow for each of the plurality of financial assets. More preferably the step of determining the customised numerical index includes the step of determining the customised numerical index based at least partly on the information associated with the capital inflow and/or outflow. Even more preferably the customised numerical index based at least partly on the information associated with the capital inflow and/or outflow represents a monetary value of the portfolio. Still more preferably the method further comprises the step of comparing the customised numerical index representing the monetary value of the portfolio with a monetary value of a predetermined portfolio having the capital inflow and/or outflow. Still even more preferably the step of comparing the customised numerical index representing the monetary value of the portfolio with a monetary value of a predetermined portfolio having the capital inflow and/or outflow includes the step of causing a comparison between the customised numerical index representing the monetary value of the portfolio and a monetary value of a predetermined portfolio having the capital inflow and/or outflow to be displayed.

Preferably the capital inflow and/or outflow include aperiodic capital inflow and/or outflow. Alternatively the capital inflow and/or outflow include periodic capital inflow and/or outflow.

BRIEF DESCRIPTION OF THE ACCOMPANYING FIGURES

Fig. 1 A schematic overview of a system implementing an embodiment of the invention.

Fig. 2 An illustration of an exemplary screenshot produced from the methodology of an embodiment of the invention. Fig. 3A An illustration of another exemplary screenshot produced from the methodology of an embodiment of the invention.

Fig. 3B An illustration of yet another exemplary screenshot produced from the methodology of an embodiment of the invention.

Fig. 4A An illustration of still another exemplary screenshot produced from the methodology of an embodiment of the invention. Fig. 4B An illustration of still yet another exemplary screenshot produced from the methodology of an embodiment of the invention.

DETAILED DESCRIPTION OF THE PREFERRED EMBODIMENTS OF THE INVENTION

The present invention generally relates to a method of providing a customised index

(specifically a customised numerical index) associated with a portfolio of selected financial assets such as stocks, managed funds, real estate, interest-bearing assets, superannuation, bonds, commodities or derivatives such as futures and options. The portfolio is preferably composed of selected financial assets of different types. The method may allow a user of the customised index, which may be otherwise unavailable, not publicly available or not commonly available, to track the performance of the portfolio of selected financial assets. In some cases, the selected financial assets may be the stocks personally held by the user. In some other cases, the selected financial assets may be part of an investment portfolio managed by a funds manager, who may track the performance of the investment portfolio and may be one of the users of the customised index. The portfolio preferably represents the total wealth of an individual or an entity.

According to one aspect of the invention, the method comprises the steps of (1 ) receiving a plurality of identifiers associated with the portfolio of selected financial assets, (2) retrieving respective prices associated with the plurality of identifiers, (3) determining the customised index based at least partly on the retrieved prices and (4) displaying the customised index or causing the customised index to be displayed.

Access by communications networks or the Internet

In some embodiments of the invention, the receiving step of (1 ) may include the step of receiving the plurality of identifiers from a networked device, such as the user's computer , mobile phone or personal digital assistant (PDA) connected to a communications network (including local area networks, wide area networks or Wi-Fi networks) or the Internet.

For example, referring to Fig. 1 , the plurality of identifiers may be (a) entered by the user in a web page 10 hosted on a web server 12 and accessible via the Internet by a web browser (such as Microsoft® Internet Explorer or Firefox) installed on the user's networked device 13, and (b) subsequently received by a web application 14 that is located on the server 12 and controls information to and from the web page 10. The web application 14 may be implemented using Microsoft® .NET® framework.

The plurality of identifiers are each able to identify a particular financial asset. An identifier may be a description of the corresponding financial asset, or simply be the symbol representing the corresponding financial asset. For example, "BHP.AX" may be the identifier representing shares of BHP Billiton Ltd traded on the Australian stock exchange (ASX). The financial assets may be stocks, funds, real estate, commodities, derivatives etc. In some embodiments, referring again to Fig. 1 , the price retrieving step of (2) may include the step of retrieving the prices from a market data system 16, which holds market data such as the current and/or historical prices of a financial asset. The market data system may have some of its data mirrored or stored in a FTP site, hosted on a FTP server 18, and downloadable to a database 20 that can be interrogated by the web application 14 through a data access layer. The database may be implemented using Microsoft® database technologies, Oracle® or any database technologies.

For an income-generating financial asset, the total return generally consists of two components: income and capital gain. For example, the total return from a real estate asset consists of rental income and an increase in the market value of the real estate asset. In some cases, once the income has been distributed or generated, the price of the financial asset is likely to fall due to the generated or distributed income. For example, the price of a stock or share often drops by the dividend amount (including or excluding franking credits) on an ex-dividend date or a date when a dividend is distributed to the shareholders. Therefore, in some embodiments, the price retrieving step of (2) may include the step of retrieving income- adjusted or dividend-adjusted prices, for example from the market data system 16, for compensating any change fully or partially in the share price due to the dividend distribution. Alternatively if the market data system 16 holds income or dividend information such as dividend amounts and ex-dividend dates, the method may further comprises the steps of retrieving the dividend information and adjusting the retrieved prices based at least partly on the retrieved dividend information. Similarly, for a real estate asset, the price of a real estate asset may be adjusted based at least partly on rental income information retrieved from, for example, real property market information providers.

In some embodiments, the determining step of (3) may include determining the sum, mean, median, or any other statistical measurements of the retrieved prices. The customised index may be computed by the web application based on the prices retrieved from the market data system. If the current prices of the financial assets are retrieved, the current value of the customised index is computed. If the historical prices of the financial assets are retrieved, one or more historical values of the customised index is/are computed. Displaying the customised index or causing the customised index to be displayed

In some embodiments of the invention, the displaying step of (4) may include displaying the customised index on a display device. The display device can be the user's networked device or other devices able to access the communications network or the Internet. For example, the web application may provide the customised index on the web page so as to cause a mobile phone accessing that web page to display the customised index. That mobile phone is not necessarily the networked device from which the plurality of identifiers are received. The web page may be set to limit access only by an authorised user (by way of a password-protected user account) or a group of subscribed users (by way of subscription), or may be published on the Internet and publicly available to other users. In another example, the web application may provide the customised index to a stand-alone application (commonly called a "gadget" or "widget") installed on a computer so as to cause the stand-alone application to display the customised index on the desktop or dashboard of the computer. The display device therefore does not necessarily have a web browser to display the customised index.

In some embodiments, the display device may be caused to display the current value of the customised index. Alternatively or additionally the display device may be caused to display the one or more historical values of the customised index. The current and/or historical values of the customised index may be displayed in a graphical display, such as chart showing the values of the customised index over time, or displayed in tabular form.

Weighting the customised index

In some embodiments, the determining step of (3) includes the step of assigning respective weights to the plurality of identifiers. For example, the user entering the plurality of identifiers in the web page may enter the weight to be assigned to each of the plurality of identifiers. The weight assigned to a particular identifier associating with a particular financial asset may numerically represent the relative importance of that particular financial asset in the portfolio. The customised index may be determined by computing the weighted sum or weighted mean (using the assigned weights) of the retrieved prices.

(a) Weights determined by unit price or market capitalisation In other embodiments, the weights may be determined by the respective prices (i.e. unit purchase prices or unit market prices) or market capitalisation of the portfolio of financial assets, and assigned to the plurality of identifiers associated with the portfolio of financial assets. For example, a stock with a higher associated share price may have its corresponding identifier assigned a larger weight than one with a lower associated share price. Similarly, a financial asset with a higher market capitalisation may have its corresponding identifier assigned a larger weight than one with a lower market capitalisation. Again the customised index may be determined by computing the weighted sum or weighted mean (using the assigned weights) of the retrieved prices.

(b) Weights determined by quantities In other embodiments, the weight assigned to a particular identifier associating with a particular financial asset may be determined based on the relative quantity (such as the number of shares for stocks, or number of units for managed funds) of that particular financial asset within the portfolio. For example, a portfolio of financial assets may include 800 shares of BHP Billiton Limited traded on ASX (with an associated identifier of BHP.AX) and 200 shares of Rio Tinto Limited traded on the ASX (with an associated identifier of RIO.AX). The weight assigned to BHP.AX may be determined as 0.8 (800/(800+200) = 0.8) whereas the weight assigned to RIO.AX may be determined as 0.2 (200/(800+200) = 0.2). Alternatively, the weights may be determined based on the absolute quantities, instead of the relative quantities, to determine the customised index. In this alternative case, a weight of 800 is assigned to BHP.AX and a weight of 200 is assigned to RIO.AX.

(c) Weights determined by purchase costs (i.e. unit purchase price x quantity) In other embodiments, the weight assigned to a particular identifier associating with a particular financial asset may be determined based on the relative purchase cost of that particular financial asset. In the example given above, let us assume that each of the share of BHP Billiton Limited is purchased at $40 and each of the share of Rio Tinto Limited is purchased at $100. The weight assigned to BHP.AX may be determined as 0.615

(800x$40/(800X$40+200x$100) = 0.615) whereas the weight assigned to RIO.AX may be determined as 0.385 (200x$100/(800X$40+200x$100) = 0.385). In this alternative case, the weight may be determined based on the absolute purchase costs, instead of the relative purchase costs, to determine the customised index, where a weight of 32000 (800x40) is assigned to BHP.AX and a weight of 20000 (200x100) is assigned to RIO.AX. (d) Weights determined by market values (i.e. unit market price x quantity)

In other embodiments, the weight assigned to a particular identifier associating with a particular financial asset may be determined based on the relative market value of that particular financial asset. In the example given above, let us assume that each of the share of BHP Billiton Limited has a market value of $30 and each of the share of Rio Tinto Limited has a market value of $60. The weight assigned to BHP.AX may be determined as 0.667

(800x$30/(800X$30+200x$60) = 0.667) whereas the weight assigned to RIO.AX may be determined as 0.333 (200x$60/(800X$30+200x$60) = 0.333). Alternatively, the weight may be determined based on the absolute market values, instead of the relative market values, to determine the customised index. In this alternative case, a weight of 24000 is assigned to BHP.AX and a weight of 12000 is assigned to RIO.AX.

Technical indicators

In some embodiments, the method may further comprise the step of determining a technical indicator for the customised index. Technical indicators are derived from the current and/or historical values of the customised index. They may assist in predicting the movement in the value of, in this case, the portfolio of financial assets. Typical technical indicators include moving averages (such as a 50-day or 200-day moving average), trend lines, advance and/or decline lines, and swing indicators.

Once determined, the technical indicators may be displayed, for example, on the web page or gadget or widget in a graphical display, plotted with or without the current/historical values of the customised index. Alternatively or additionally the technical indicators may displayed in tabular form. The system may also be used to measure portfolio risk by comparing the customised index with a benchmark index or a standard index, such as the S & P 200. Portfolio risk, in one embodiment, is represented by Beta which is equal to the customised index divided by the benchmark or standard index. Betas are calculated using regression analysis and are thus a comparison between a standard, usually a broader market average, and the stock in question. That is, a Beta of 1 means the same risk as the standard index with a Beta greater than 1 representing a higher risk. The notion that higher risk should be accompanied by higher returns means that an investor who is not risk averse will choose a portfolio of stocks that generate a Beta greater than 1 because the investor wants to outperform the standard index, such as the S & P 200.

Expert indices or other predetermined indices

In some embodiments, the method also comprises the step of comparing the customised index with a predetermined index. The predetermined index may be one of many customised indices, determined according to the aforementioned steps of the method. For example, the predetermined index may be an "expert index" determined based on the respective prices associated with financial assets selected by a finance expert. As another example, the predetermined index may be one of many customised indices being made publicly available and subscribed by subscribers of the predetermined index. As yet another example, the predetermined index may be a common index such as the S&P ASX 200 index or the NASDAQ 100 index.

In some embodiments, the step of comparing the customised index with the predetermined index includes the step of displaying the current and/or historical values of the customised index and the current and/or historical values of the pre-determined index. The two indices may be displayed in a graphical display and plotted, for example, side-by-side for comparison. The application may also be used for modelling different "mixes" of stocks or other financial assets. An investor or advisor or stockbroker can instantly see performance (e.g. customised index) and risk (e.g. Beta values) profiles as all or part of a portfolio is changed (e.g. select different stocks or weight the stocks differently). This allows the user to make better informed decisions. The advisor/stockbroker can therefore do some modelling in advance of seeing a client.

Monetary value of portfolio

The customised index may generally track the performance of a portfolio over time. If the composition, including the quantity of each asset, of the portfolio is unchanged from the initial composition, a price-weighted customised numerical index may also represent the monetary value (e.g. the market value) of the portfolio. In other words, the price-weighted numerical customised index and the monetary value of an unchanged portfolio differ by merely a multiplication factor. Conversely if the portfolio composition is changed from the initial portfolio composition (for example, a certain quantity of a new or existing asset is added to or removed from the portfolio), the customised numerical index may not represent the monetary value of the portfolio unless the changes to the portfolio over time are taken into account. These changes may include, for example, capital inflow and outflow for each of the assets. The capital inflow and outflow may include aperiodic or periodic capital inflow and outflow.

Figs. 4A and 4B illustrate various customised numerical indices associated with a user's portfolio over time. Fig. 4A plots (a) a price-weighted index 30, (b) a price-weighted index with total return 32 and (c) the S&P200 index 34 over a period of time spanning approximately from January 2006 to July 2009. All three indices are scaled with an arbitrary initial value of 1000. On the other hand, Fig. 4B illustrates the total capital inflow and/or outflow 38 associated with the user's portfolio over time, as well as customised indices 40 and 42 representing the monetary value (with and without total return) of the user's portfolio over time. Initially the user's portfolio has a monetary value of 80,000 (which represents the initial capital inflow of $80,000 into the user's portfolio). Until around July 2008, the portfolio composition is unchanged. Accordingly, the customised indices 30 and 32 shown in Fig. 4A and the corresponding customised indices 40 and 42 shown in Fig. 4B increase and decrease proportionally and, therefore, are scaled versions of each other and have the same shape. Near July 2008, there is a capital inflow of $150,000 into the user's portfolio, bringing the total investment to $230,000. Also near July 2008, the numerical indices 40 and 42 representing the monetary value of the user's portfolio surge due to the capital inflow. After the surge, the indices 40 and 42 again follow similar trends to those followed by the indices 30 and 32.

Information associated with these capital inflows (eg. date of inflow, amount of inflow, distribution of the inflow among different assets) may be entered into the web page 10 by the user and therefore received by the web server 12. The web application may therefore compute numerical indices representing monetary value of the portfolio over time.

While the indices 30 and 32 give an indication of the performance of the user's portfolio over time, the indices 40 and 42 represent the monetary value of the user's portfolio over time. The indices 40 and 42 also take into account changes to the composition, including the quantity of each asset, of the user's portfolio. Furthermore the indices 40 and 42 may be compared with or benchmarked to a predetermined portfolio assembled according to a standard index or a predetermined index. For example, Fig. 4B plots a modified S&P 200 index 44, which is determined by scaling the regular S&P 200 index with the initial value of 80,000 (representing the initial monetary value of indices 40 and 42) and then increasing the scaled S&P 200 index by a value of 150,000 (representing the capital inflow) near July 2008. The modified S&P 200 index 44 therefore represents the monetary value of a portfolio assembled according to the S&P 200 with an initial investment of $80,000 and a later investment of $150,000 near July 2008. Such comparison provides an indication of the value of the user's capital if the capital had been invested in the predetermined portfolio (eg. a S&P 200 portfolio) rather than the user's portfolio. User accounts

In some embodiments, the web application may provide two or more customised indices to a single user or multiple users. The web application may also provide a single customised index to multiple users (that is, to subscribers by way of a subscription service). To distinguish among different customised indices, the method may further comprise the step of creating a user account associated with a particular customised index. This may include associating the plurality of identifiers with the user account by, for example, storing the plurality of identifiers (which may have been entered by a user in the webpage) on the server in an identifier file linked to the user account. The user account may have an associated username and may have its access protected by a password. The user account may be associated with more than one customised index. As such, when a user logs on to the user account, whether it is password-protected or not, the user may be provided with the customised index without the need to re-enter the plurality of identifiers.

In some embodiments, one or more historical values of the customised index associated with the user account may be stored on the server in an index file for the user account. As such, when the user logs on to the user account, the user may be provided with the historical values of the customised index without the need to retrieve prices from the market data system again.

Figure 2 is a schematic illustration of an exemplary screenshot produced by the preceding embodiment of the invention. The various components of the graph include:

1. As the name suggests "Lisa" creates an index made up exclusively of stocks or funds that she either owns now or wants to buy;

2. She will be able to compare the performance with one of the major indices such as the S&P 200 or some other combination of stocks/funds of her choosing; 3. The system will automatically construct and display an advance/decline line, three trend lines, a swing factor a 50 and 200 day moving average and a Beta each based on her customised portfolio.

An A/D line plots the difference between stocks that rise in price and those that fall on a daily basis and works on the assumption that in a rising market weaker stocks top first whilst the larger blue chips tend to be sold last. Hence a top in the A/D line tends to precede the broader market averages, which are market cap weighted, and as such heralds a potential trend change.

Trend lines are simply 3 parallel lines with the centre line being a line of best fit with respect a data set and the upper line connecting the higher points and the bottom line connecting the lower points and thereby delineating a channel. If a trend is in force it can be so depicted and prices will tend to oscillate within this channel. Observing this a trader will tend to buy near the lower trend line and sell toward the top line.

The swing factor foretells impending short term turns in the market whereas the A/D line represents the undertone of the eventual market direction in the longer term. Figures 3A and 3B are schematic illustration of other exemplary screenshots produced by the preceding embodiment of the invention. Figure 3A plots the customised index for a portfolio "testOT of financial assets over a duration of approximately 12 months. Figure 3B plots the customised index over the same duration, together with various technical indicators such as the 50-day and 200-day moving averages, trend lines, advance and decline lines in the upper graph, the swing indicators in the middle graph, and the risk indicator Beta in the lower graph.

Having described several embodiments of the method according to the present invention, it should be apparent that the method has the following advantages:

• The customised index can be tailored to provide an indicator of the performance of a specific industry or sector.

• The customised index provides a way for comparison with a common market index, and thus provides a way for indicating whether a specific portfolio of financial assets outperforms or underperforms the overall market.

• The customised index provides a way for comparison with an expert index (eg. for a particular industry), and thus provides a way for comparing the performance of a portfolio of selected financial assets against a benchmark performance in the same industry or sector.

It will be appreciated by persons skilled in the art that numerous variations and/or modifications may be made to the invention as shown in the specific embodiments without departing from the spirit or scope of the invention as broadly described. For example, the method may be implemented using a command line interface on a dedicated terminal, other than a web interface on an Internet-connected computer. The financial assets may be other commonly traded financial assets such as swaps, futures, options and unit funds. The present embodiments are, therefore, to be considered in all respects as illustrative and not restrictive.