switching fonts

Missing ASCII circumflex from font changes typeface after typing circumflex-accented glyph



I've used a font in Microsoft Word, which works fine except when I need to type circumflex-accented glyphs.
In general, I've noticed that when you type a circumflex, before typing the letter you want to accentuate, you temporarily get the ASCII circumflex. Then, when you type the letter, say "a", the correct circumflex is used in the pre-built accented glyph.
So, in the present case, when I type "^" plus "a", Microsoft Word changes to Times. This behaviour rang a bell, so I opened the font in FLS and the ASCII circumflex is missing from the problematic font file. My assumption is that as Word can't find that glyph (ASCII circumflex), it switches to another default font.

2 questions:

– Is it a Microsoft Word "bug"?