Pioneers of exchange-traded funds Benchmark Asset Management kicked off their operations in 2001. The concept was completely new and an idea that was way ahead of its times when it was launched. Over the past decade, this AMC has managed to establish the role and need for an ETF in one's portfolio. ETFs are great investment vehicles, but their success has largely been backed by popularity of availability of several index alternatives in developed countries and economies. The launch of the Nifty ETS in 2001 or the gold ETF were pioneering drives by this AMC that made a name for itself as a leading innovator. The fund house believed in the market for passive investors who preferred investing in low-cost ETFs for their efficiency and transparency. In 2011, Goldman Sachs Asset Management acquired Benchmark Mutual Fund to increase its presence in the country and renamed itself Goldman Sachs. This development should help the AMC launch ETF products with Goldman Sachs' global expertise which could see several offshore funds that will offer evolved investors and those looking for diversification to explore. The first mover advantage and experience in managing ETFs shows in its scale. But, a lot will hinge on the popularity of indexing amongst Indians, especially considering the several options that they have within the managed fund scheme universe in the country.