Mutual fund investors in India can now benchmark the performance of their portfolio against the overall performance of equity mutual funds. The first of its kind All-Equity Fund Index by iFAST Financial India has made this possible.
The company launched fundsupermart.com (FSM), website where Indian investors can choose from 24 asset management companies (AMCs) and 79 equity funds, along with FSM All-Equity Fund Index (FEFI). “FEFI is the first equity fund index for India and is the first in the series of indices. We are planning more,” said Rajesh Krishnamoorthy, managing director, iFAST Financial India.
The index, which provides investors a quick an accurate method to study their portfolio, is based on performance of select open-ended equity funds. FEFI has already emerged an indicator for investors and fund managers in Singapore, Hong Kong and Malaysia.