AMFI puts ₹300-crore media mandate on pitch

The Association of Mutual Funds in India (AMFI) has initiated a pitch process for its media mandate, estimated at around ₹300 crore, marking one of the largest account reviews in the financial services advertising space this year. 

The move comes in line with regulatory requirements laid down by the Securities and Exchange Board of India (SEBI), which mandate periodic review and rotation of agency partnerships to ensure transparency and competitive benchmarking.

According to industry sources familiar with the development, the pitch process is currently underway, with several leading media agencies invited to participate. The mandate includes comprehensive media strategy, planning, and buying across traditional and digital platforms, aimed at driving investor awareness and deepening mutual fund penetration across the country.

The incumbent agency, Dentsu, which has been handling the account for over 10 years may defend its position in the ongoing review. Dentsu has played a key role in executing large-scale investor education campaigns for AMFI, including the widely recognized “Mutual Funds Sahi Hai” initiative that significantly boosted retail participation in mutual funds.

The decision to call for a pitch is understood to be procedural rather than performance-driven, as regulatory norms require financial sector bodies to periodically reassess vendor partnerships. 

SEBI’s guidelines emphasize governance, accountability, and fair competition in the appointment of agencies handling large public-interest mandates, particularly those involving investor education and mass outreach.

Industry executives note that the size and strategic importance of the AMFI account make it a highly sought-after mandate. With mutual fund penetration still relatively low in India compared to global benchmarks, AMFI’s communication efforts are seen as critical to expanding the investor base beyond metro cities into Tier II and Tier III markets. As a result, agencies are expected to bring strong capabilities in regional media planning, digital innovation, and data-driven targeting to the table.

“The AMFI mandate is not just about media buying; it requires a deep understanding of financial behavior, regulatory sensitivities, and the ability to craft sustained narratives that build trust among first-time investors,” said a senior media executive, requesting anonymity.

The pitch is also expected to evaluate agencies on their ability to integrate traditional mass media with digital and performance-driven channels, reflecting the evolving consumption patterns of Indian audiences. With increased emphasis on investor education through digital platforms, social media, and vernacular content, the mandate is likely to test agencies’ expertise in omnichannel strategies.

AMFI, which represents asset management companies in India, has been at the forefront of promoting financial literacy and encouraging disciplined investing through systematic investment plans (SIPs). Its campaigns have played a pivotal role in shaping public perception and awareness around mutual funds as an asset class.

Neither AMFI nor Dentsu responded to queries at the time of filing this report.

The outcome of the pitch is expected in the coming months, following multiple rounds of presentations and evaluations. The winning agency will be tasked with steering one of India’s most visible financial awareness campaigns at a time when retail participation in capital markets continues to rise.

Recently, Concept Communications Ltd., an independent integrated communications agency, secured the creative mandate for AMFI following a competitive pitch process. Under the new mandate, Concept Communications is expected to handle creative duties for AMFI’s ‘Mutual Funds Sahi Hai’, a long-running financial awareness campaign.