Mutual Fund houses have started providing innovative value added services (VAS) to investors in order to survive future competition.
Many new fund houses are set to enter the Indian mutual fund (MF) industry in the coming months and MF players feel that those players that provide better services will survive competition.
ICICI Prudential MF?s mobile based service that provides 24×7 access to investments in ICICI Prudential schemes is one such VAS. Also, recently launched Edelweiss MF provides services like simplified application form and grievance redressal mechanism.
Jimmy Patel, CEO, Edelweiss Asset Management Ltd said, ?We strongly believe that by providing these services, we can further strengthen our relation with investors.?
Edelweiss collected over Rs 900 crore under its maiden new fund offers (NFO) Edelweiss Liquid Fund and Edelweiss Liquid Plus Fund. The company had offered services like daily systematic investment plan option, additional disclosures in statement of additional information and scheme information details, and online transaction facilities for first time purchases during the NFO.
Nimesh Shah, MD, ICICI Prudential said while commenting on new services which will be provided by the fund house, ?Our effort has always involved connecting with customers and taking the relationship beyond mere ?return expectations?.?
Through VAS like Pru Tracker, Pru Alert, Pru Mobile Tracker and now IPRU Mobile we seek to offer our customers convenience and experience, he added.This focus will help create a niche for ICICI Prudential AMC , he says.
Several big fund houses have already chalked out plans to draw investors through other innovative techniques.
