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UTI AMC has launched the country's first momentum-based passively managed fund, based on the Nifty 200 index. UTI, which manages seven equity ETF funds with an AUM of around Rs 44,000 crore, making it the second-largest such equity fund in the country, said the new fund will be based on the 30 best performing stocks from the Nifty 200 index. Sharwan Kumar Goyal, the fund manager of the scheme, said the new fund was opened on Thursday to good investor response but was quick to add that AMC has not set any internal targets in terms of AUM or folios. Since it a passively managed fund and a ne...

What do you tell those folks who are looking at this and saying, what's this going to mean for me? >> well, i think there is one thing for people to recognize here, which is there is a market movement to push everything into index funds 100%. and apple is 5% of the s&p 500. so if apple goes down 25%, you're going to see a dramatic selloff in the major indices. so it's good for people to spread their bets around a little bit rather than to be orthodox around active management versus passive management. that's number one. number two, the markets are fast these days. you can get drawn into that a...