With an aim to expand the mutual fund investor base across India, AMFI (Association of Mutual Funds in India) has commenced a multi-city radio campaign. The campaign will spread across 20 Tier I & II cities apart from Mumbai and Delhi. The radio campaign urges individuals primarily between the age group of 25-44 to use the mutual fund route to regular savings on a long term basis.
The radio investor awareness program is part of the earlier campaign by AMFI, “Savings Ka Naya Tareeka”. Besides these campaigns, the Mutual Fund industry has initiated a ‘District Adoption Program’ launched recently; in the first phase 178 cities have been adopted by 32 mutual fund companies. The selection of districts was based on the savings potential seen in the districts.
Speaking on this initiative, Sundeep Sikka, Chairman AMFI and CEO, Reliance Mutual Fund said, “Financial awareness is the core aspect to ensure the upward trend in the economy. Although the mutual fund industry has guaranteed a niche` place in the finance sector, there is still a long way to go for the awareness to take shape among the working class. The radio investor education is a very efficient way to reach out to the masses”.
V Ramesh, Deputy CEO, AMFI, said, “Investor awareness is a generation game and does not happen overnight. After successful campaign on TV, we are now looking to leverage the reach of radio to make the campaign more effective”
Jaideep Bhattacharya, Chairman, AMFI committee on Financial Literacy and MD, Baroda Pioneer AMC said, “The primary goal of the radio campaign is to spread awareness and reach potential investors in underserved markets. In our country, where over 50% of domestic savings go into fixed deposits, the mutual fund industry has a huge scope for growth. We are confident, that through this campaign we will be able to alter how mutual fund is perceived in Tier I & II cities and channelize savings through mutual fund route.”