Andy has been asked to propose a benchmark against which his firm's Australian Equities Large Capitalisation Fund may be measured. As part of his proposal, he has been asked to suggest what characteristics are most desirable. Which of the following characteristics are considered important?

a.

An index that is subject to high levels of turnover

b.

An index that is reconstituted every day

c.

An index that has a large number of small capitalisation stocks that are not readily traded

d.

An investable index that is objectively constructed

e.

An index that monitors the performance of corporate debt