The best known index fund manager in Australia is Vanguard. They are the first index fund in the world. The strategy they use for investing is called indexing.
Prices for the previous day update before 4pm.
Other fund managers have funds that use the same strategy but Vanguard is the pioneer of the industry and they usually have very low fees compared to other fund managers.
RaboPlus offers access to Vanguard wholesale funds.
A few fund managers, along with some banks, offer accounts that track either the Australian S&P 200 or 300 indices. Some offer accounts with direct share purchase according to an index. Here are some of these options:
To monitor the Australian indexes, go to Stock Market page.
Exchange Trated Funds (ETFs) are offered in Australia. They are index funds in a sense that their value follows an index. Yet they are traded on the Stock Exchange, not as a mutual fund.
The advantage of ETFs is the cost-efficiency and liquidity. As they require very little maintenance, their operating costs are very low.
List of ETF products available on ASX - link.
Description of ETFs from ETF mate (link)
ETFs are offered by Australian Index Investments (Aii), iShares, Russell Investments, State Street Global Advisers and Vanguard Investments.
Vanguard started several ETFs on 2009-05-08.