A lot of new investors have come into the market over the past year or two. Many of them ask the question whether there is any simple and basic product to start investing in the market.In an interview to CNBC-TV18, Radhika Gupta, MD & CEO of Edelweiss Asset Management said, index funds are a simple, predictable and reasonably cost-efficient way to participate in the market. She said with index funds investors don't have to worry about beating the market, which stocks to choose, etc."Index funds are a simple way to get started with exposure to the markets. With index funds, investors don't have to worry about beating the market, which stocks to choose, etc. So index fund is the first step to investing; they let you participate in the market in a simple, predictable and reasonably cost efficient way."Also Read: Edelweiss AMC launches large and midcap index fund; here’re scheme detailsShe said the most important thing in an index fund is the index that the fund replicates.Also Read: Why Balanced Mutual Funds Is The Best Investment Option During Volatile Times"The most important thing in an index fund is the index. The index is essentially a construct, it is a set of rules published by a registered index provider. In India, it could be the BSE, NSE, Crisil, or MSCI and that determines what the fund will do because the index funds' job is to replicate that index. You have indices like the Nifty which is the top 50 stocks, you have the Midcap 150 which is the top 150 midcap stocks, then you have the large and midcap 250 which is 250 stocks. So the index fund will be as good as the index and the return of the index fund will be the index return minus fees and some tracking error."Watch video for entire conversation.