AMC ropes in its advisors to conduct drawing competitions for children to popularise its product.
Peerless Mutual Fund, the only mutual fund based out of Kolkata, is adopting an innovative method to create awareness among parents for its Peerless MF Child Plan, with the help of its IFAs.
In the first phase of the promotional activity, the AMC has held ‘sit-and-draw’competitions for children with the theme, ‘Paint your dreams’.The events have been spread acrossnine locations in Tier-II and Tier-III cities in India like Ahmedabad, Pune, Mumbai, Midnapur, Ghatal, Contai, Guwahati, Bangalore and Coimbatore.
The fund house has around 700 IFAs empanelled with it and this program is driven by its advisors. IFAs have to approach their clients and coordinate with schools to organise the event.
“Our motive is to increase the interaction of IFAs with their clients through this activity. We are also looking forward to increasing our IFA strength through these programmes. For instance, one of our IFAs based out of Delhi audits several schools. He is keen to conduct such an activity in the capital,” says AkshayGupta, CEO and MD, Peerless Mutual Fund.
While the kids are busy painting their dreams, the AMC is putting in extra effort to make their parents understand the necessity of securing their child’s future by investing in a child plan.Parents have been visiting the Peerless MF office in batches to understand the product in detail. “The activity has been going on over the last four months and over 3,000 children have participated in the event. Through this activity, we are able to popularise the product and also focus on the correct target audience,” adds Akshay.
The AMC will be initiating the second phase of the activity this month by tying up with IFAs in locations like Durgapur, Burdhwan, Chinsura, Chennai, various parts of Uttar Pradesh and the NCR region.
After the competition, the children along with their parents collect their participation certificate from their IFA’s office. Advisors get a chance to discuss the product with parents. The winners of the competition also get Rs1,000 worth of Peerless MF Child Plan units.
Many IFAs who are not associated with Peerless have also shown interest in these activities.
The fund house claims that the product (an open-ended debt scheme) is a complete solution for children because of its asset allocation—60% in debt (which can be raised to 80%) and 40% in equity and gold. “The fund has been delivering 11% return since inception. Even in a volatile market, it protects investments by increasing the debt exposure,” adds Akshay.
