Performance of an Insurance fund's can't be judged simply by checking the investment returns of the fund, it needs to be compared against an appropriate market indices. However, there exists no single market index to capture the need of comparison, hence; the need arises for customising a benchmark to suit the Insurance fund objective.

The index is be customised taking into consideration the investment philosophy of insurance companies. The index is be a total return index and the cash flows realised are assumed to be reinvested on the same day at the going yield. The index is updated and maintained on a daily basis (T+1). Rebalancing of the weights and constituents are carried out at pre-defined frequency.