1Assistant Professor, Vidya Prabhodini College of Commerce, Porvorim, Goa-403521
2MBA(FS) Student, Department of Commerce, Goa University, Goa-403206
3Registrar and Professor, Department of Commerce, Goa University, Goa-403206
Online published on 15 February, 2019.
An index fund is an investment vehicle which aims to mimic performance of the select market index by constructing a portfolio which replicates the market index portfolio. This paper examines the performance of select index mutual funds in India based on tracking error and Jensen's alpha, and rank these funds based on their performance. The study reveals that Franklin India index fund has a lower tracking error followed by Birla Sun Life index fund. Rankings using Sharpe and Treynor's ratio reveal that Franklin India index fund and SBI Nifty index fund respectively are the best performing funds from the selected index funds.
Index funds, tracking error, risk adjusted return, exchange traded funds
