Campaign logic: Icebreaker to allay mutual funds fears

A campaign by AMFI focuses on building awareness about mutual funds and the basic rules of investing

Brand: AMFI

Budget: Rs 10-12 crore*

Agency: J Walter Thompson

*Industry estimate

Mutual funds are the not the first option that comes to our minds when we think of investment options. In India its penetration remains low even compared to some developing economies, if one goes by multiple reports. Given such a scenario, the Association of Mutual Funds of India (AMFI) — the trade association of asset management companies of all mutual funds in the country — has come up with a timely advertising campaign to create investor awareness.

The campaign, which has the tagline “Mutual funds sahi hai”, broke in the third week of March, and comprises eight television commercials (TVCs) — four each over two phases. The TVCs show conversations between friends and strangers with one convincing the other to invest in mutual funds. For instance, a man behind the steering wheel tells his friend, who has just deposited money in the bank and slumps to a seat in his car, that it’s fine for him to rest but not for his money. We find situations such as friends having samosas on the road, at a classical concert, playing golf, at the beauty salon, a wedding, watching cricket on the road hooked to the screen on a showroom and strangers on the daily local train.

Rajesh Gangwani, managing partner of J Walter Thompson — the creative agency behind the campaign — says the multi-layered campaign talks to people with money across classes and its multiple narratives address popular concerns associated with mutual funds such as risks and time constraints. He points out that although there have been ads under the aegis of the Securities and Exchange Board of India (Sebi), this is the first time more than 40 asset management companies have got together for a campaign of this magnitude which they call an investor awareness outreach programme. “It will be a long-term campaign with continuation of the same thought over quarters. Since we are talking about changing habits, it cannot happen overnight. You have to persuade people.”

As part of the campaign, AMFI has created a microsite (www.mutualfundssahihai.com) and included longer digital films which offer detailed explanations. Gangwani argues the phrase “sahi hai” reassures people about doing the right thing and builds confidence with its “cool” conversational lingo. “Given the size of the country, the mutual fund penetration is still very low, as we prefer other avenues of investment. How do investors feel comfortable? That was one of the important things for us. Also, how do you bring mutual funds into regular conversation?” he says.

Sebi has mandated mutual funds to set aside a portion of their net assets for investor education, and after the demonetisation of high-value currency notes in November 2016, banks were flush with high deposits, providing a timely option for AMFI to float the campaign.