I have heard great reviews about this ICO. I definitely believe the index funds are going to be huge in this cryptoworld.
TBH they copied the idea from Bit20 which is already functional on the bitshares ledger. They've be up and running for a while now and is still accurate in terms of pricing. I don't know why crypto20 decides to come in and do a similar thing.
If they can do the job better and make this process more decentralized, then sure.
But otherwise, no point for this ICO.