1. Amfi, AMCs to spend Rs 300 crore to create investor awareness

Amfi, AMCs to spend Rs 300 crore to create investor awareness

To further attract investors into the mutual fund industry, the Association of Mutual Funds in India (Amfi) and asset management companies (AMC) will jointly spend over `300 crore to create investor awareness and financial literacy.

By: | Mumbai | Published: November 17, 2016 6:07 AM

To further attract investors into the mutual fund industry, the Association of Mutual Funds in India (Amfi) and asset management companies (AMC) will jointly spend over `300 crore to create investor awareness and financial literacy. The past few months have seen a huge participation from semi-urban and rural areas, largely due to the investment awareness programmes and positive returns in equity markets.

CVR Rajendran, CEO-Amfi said, “Out of total amount of `320 crore, half will be utilised by the fund houses for financial education and remaining `160 crore by us on financial literacy. Our focus is to spend on print and electronic media, but more money will be spent on digital media. Our creative work is on and once everything gets finalised we will hit the market.”He also added that they have already used `30 crore on television advertisements.

Officials in the mutual fund industry say in the last one and half years, mutual fund assets has risen from around `11 lakh crore to `17 lakh crore. “We estimate around 2 crore investors in mutual funds, out of which 1.16 crore people come in through systematic investment plan (SIPs). We are targeting around 6-8 crore investors in the next five year,” says a CEO of the top fund house. SIPs inflow volume now stands at `3,000-`3,500 crore on monthly basis from `2,500 crore a year earlier. According to the data from Amfi, total SIP accounts as on March 2016 was at 98.57 lakh and over 73 lakh in March 2015.

In the year 2012, the Securities and Exchange Board of India had asked fund houses to set apart at least 2 basis points on daily net assets within the maximum limit of total expense ratio for investor education and awareness programmes.Rajendran was speaking at launch of new gamified investor education website of DSP BlackRock Investment Managers.

DSP BlackRock on Wednesday launched ‘dspblackrock.com/learn’, a comprehensive digital platform that aims to demystify financial concepts, introduce retail investors to investment planning and further empower them to manage their own wealth. This platform will use an innovative ‘gamified’ approach to enable investors to learn various aspects of personal finance in a way that is relevant and engaging, in a self-timed and self-guided manner.

Please Wait while comments are loading...

Go to Top