Benchark ETF S&P CNX 500 Fund product
It's unlikely your financial adviser talked to you about the Benchark S&P CNX 500 Fund product. It has been launched recently.
Here's more on this:
It's a complete market Index product, ideal for the equity part of your asset allocation. As it is an Open fund, it will be available for buying and selling just like any other fund. Watch for expense ratio and tracking error. Both should be extremely low (upto 0.5% can be tolerated)
Update on Jan 20th, 2008 - Thanks Sandeep for that.