AMFI is also starting its campaign ‘Savings Ka Naya Tareeka’ on radio channels.
Fund houses have started organizing investor awareness programs in the districts allotted to them by AMFI under its new initiative called ‘District Adoption Program’ (DAP). The DAP is expected to be formally inaugurated by SEBI chairman U K Sinha soon, said sources.
200 districts across the country will be a part of this program. AMFI is aiming to conduct 5000 Investor Awareness Programs by the end of next year. AMFI has formed a ten-member committee which is headed by Jaideep Bhattacharya, MD & CEO, Baroda Pioneer AMC, to oversee the project.
Some AMCs have already started to reach out to investors in their respective districts. Kotak Mutual Fund was allotted Agra, Gwalior, Panipat and Rohtak districts. The fund house has started an outdoor campaign on SIP. It is also planning to reach out to students in schools and colleges in these districts.
L&T Mutual Fund has started its investor and distributor education meets in Ambala, Dhanbad, Moradabad, Madurai and Visakhapatnam.
Franklin Templeton has been given 10 districts that include Hubli, Sitapur, Tiruvallur among others. The fund house will start its activities next month.
This is the perhaps first time that the industry is putting greater emphasis on upgrading the skills of distributors along with reaching out to investors. In order to increase the industry’s distribution force, SEBI has asked AMCs to create a new pool of distributors called the new cadre of distributors’.
Many AMCs are trying to enroll LIC and PPF agents into the mutual fund distribution fold. “The District Adoption Program (DAP) aims to create employment for nearly 2000 youths in Tier II and III cities, by inducting them as new cadre of Independent Financial Advisors (IFAs) in the mutual fund industry,” stated a press release issued by AMFI earlier.
AMFI is also likely to take its ‘Savings Ka Naya Tareeka’ on radio channels soon. The campaign will be run in multiple languages on FM channels.
