I recently made a small investment into a mutual fund operated in Luxembourg with net return index that has consistently outperformed its index in 1 year, 3 year and 5 year timescales (the fund started in 2011 so no 10 year timescale is there), after an investment advisor found out that I had no investments in emerging markets. The exact index is "MSCI Emerging Markets Net Return Index".
My question is, does this particular index include dividends? If not, that might explain the consistent outperformance of the fund in comparison with the index.
I understand there's also a gross return version of the index. How does a net return index differ from a gross return index that this particular fund doesn't use as its index?