Birla Sun Life Asset Management Company Ltd (BSLAMC) has recently launched its investor education campaign, christened ‘Khushaali ki Gaadi’. This is a first of its kind initiative that aims to create awareness amongst investors about importance of mutual funds, which can help beat inflation and help them grow their savings in an optimal way.
The idea is to bring greater awareness about the mutual funds industry and promoting mutual funds as effective investment tools. It targets an audience largely comprising investors who use traditional saving instruments.
The campaign comprises specially designed vans, which visit key locations in the selected cities at a designated time, week after week. The vans dedicate their time to resolve queries so that people can take well informed decisions regarding planning of their investments. There is also an extensive use of state of the art technology like mobile calculators, tablets, financial messages through SMS, out-bound dialer and radio, thus combining mobility with technology to create awareness about the initiative.
Commenting on the initiative, Ajay Kakar, Chief Marketing Officer, Aditya Birla Group - Financial Services, said, “A mutual fund is an ideal concept for anyone who has money, but has no time or knowledge about how to make their money work hard for them. While this powerful money management and growth investment avenue has been in India for almost 50 years now with 42 best brands in India, the category has a very low penetration of only around 5 per cent of household savings. Despite the combined effort of an entire industry, mass India has yet to understand the vital role that mutual fund can play in his life in making his dreams come true. With the rising concerns about inflation, mutual funds (with an offering spectrum that ranges from debt to equity and in between) have become increasingly relevant for the investor. Taking this as a starting point, with the ‘Khushaali Ki Gaadi’ (KKG) we are taking this concept to mass India at their doorstep.”
He further said, “Mumbai is an ideal market to target the working class with the importance of financial planning. Also, this class bears the direct burden of inflation which makes our campaign relevant for them. Besides, Aurangabad and Kolhapur are also ideal markets where the aspirational class resides. The class is looking for a better way to grow their money but is unaware of mutual funds. Basis the results in these areas and evaluating which marketing tools work best, we will roll out this activity phase – wise in key markets like the other metros and states such as Gujarat, Maharashtra etc. Being an innovative campaign which is leveraging state of the art technology, we have allocated commensurate amounts towards this campaign. This is an investor education commitment by Birla Sun Life Mutual Fund and optimal budgets have been allocated towards it.”