Last week, DSP Blackrock Asset Management announced it will benchmark its actively-managed equity schemes to the Total Return Index (TRI).
The move went largely unnoticed among investment advisors and knowledgeable investors but rival mutual funds sat up and took notice. This is because a Total Return Index - a more efficient way to measure the performance of a scheme vis-a-vis its benchmark could show shrinkage in the product's returns compared to the benchmark, sharpening the
