Professional investment funds that merely seek to emulate the investment performance of a specific share index, by usually, investing in only the companies that make up the index and in the same proportion that each company comprises of the index.
Tracker funds aim to mirror the progress of a stock market index, e.g. the FTSE 100*, by buying and selling shares in the same proportions as represented on the index. These are also sometimes called index (tracker) funds or passive managed funds.
Funds that seek to produce returns in line with an underlying benchmark (usually a stock index). The manager does not take active bets. The fund may buy stocks or track using quantitative techniques or derivatives.