Race is on to create India’s own Vanguard

Passive products now account for nearly a quarter of equity assets under management versus about 16% two years ago, data from the Association of Mutual Funds in India show.

INDIA’S US$442bil (RM1.84 trillion) asset management industry is finally having to reckon with the passive investing juggernaut.

After decades of sluggish growth, the number of accounts invested in index-tracking or exchange-traded funds (ETFs) more than doubled to 5.6 million in the year to April.