Passive funds have been making steady inroads in the Indian investment landscape. These funds generate index like returns at a cost which is much lower than actively managed funds.While index funds and ETFs based on largecap indices have been around for quite some time, does it make sense to think of a passive fund which mirrors perhaps the midcap index or the smallcap index? What sort of passive funds can you look at adding to your portfolio and how do they really fit in with your overall investment philosophy? To discuss this CNBC-TV18 spoke with Aashish Somaiyaa MD & CEO of Motilal Oswal AMC and Pratik Oswal Hd-Passive Funds Business at Motilal Oswal AMC.