The Association Of Mutual Funds in India is turning to the airwaves in a bid to get investors to join the MF bandwagon.
It has planned a radio campaign in 20 cities in addition to Mumbai and Delhi, according to a note from the association. The move comes even as the industries total assets under management inched towards the Rs.9 lakh crore mark, touching Rs.8.9 lakh crores in November.
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 channelise savings through mutual fund route.”
