IDBI Federal Life Insurance Co. Ltd recently announced former cricketer Sachin Tendulkar as its brand ambassador to increase brand awareness in untapped markets. While celebrity endorsements are common to the insurance industry, you wouldn’t see them in mutual fund ad campaigns. That’s because asset management companies are not allowed to do so.
The advertising guidelines for mutual funds are more comprehensive when compared to other financial products. Apart from transparency on performance-related information of an MF product, there are special rules on promotion and endorsements.
