There is nothing absolute in this world of relativity. The fund management and advisory
activities should be measured and compensated by their capability to generate higher
return at a given risk compared to the no brainer relevant benchmarks.
In view of the non availability of relevant benchmarks in the country, Narnolia's
research only initiative 'Eastwind' developed 69 objective Indices including the
world famous and widely tracked All Share Index (ASI), Indo Islamic Index, launched
with the mandate from the PMO by Smt. Shiela Dixit amidst an august gathering of
representatives from various countries, ministries and judiciary. These Indices
are used by various corporates as well to measure and compare their own performances.
UTI became the first AMC to use this benchmark for their funds.