New Delhi, April 25 (PTI) Mutual fund industry body Amfi will unveil three TV commercials featuring cricketing legends Sachin Tendulkar and Mithali Raj on Tuesday to address investor concerns over volatility of the market, new era digital trends and unregulated programs.
These new television commercials (TVCs) will educate small savers about the pitfalls of investing in questionable schemes and new-age trends and will also encourage them to turn to formalized and regulated investment avenues like mutual funds, the Association of Mutual Funds in India (Amfi) said in a statement on Monday.
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According to a joint study conducted by the Indian Institute of Corporate Affairs (IICA) and the Investor Education and Protection Fund Authority (IEPFA), analyzing 15 scams related to unregulated and illegal schemes, more than 10 crores of Indians were defrauded by top 15 pump-and-dump Ponzi schemes over the past three decades, resulting in an average loss of Rs 15.27 lakh per victim. All offered an unrealistic return on investment that attracted gullible investors.
“At Amfi, we want to educate small savers to transition to a formal, regulated way of investing and opt for mutual funds as the preferred investment path. Last fiscal year, the mutual fund industry has added 1.09 crore in new mutual fund investors,” Balasubramanian, Chairman, Amfi, said.
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“A significant portion of retail savers have expressed concerns about continued market volatility in light of various global geopolitical events. We wanted a voice of reason, someone people trust to address the concern. and educate them that it’s best to ignore short-term volatility and focus on long-term goals, so we chose Sachin Tendulkar, our brand ambassador for that,” he said. added.
Putting the rationale for the new campaign into perspective, NS Venkatesh, Managing Director of Amfi, said that many young investors have been swayed by the returns offered by new-era digital trends, not realizing that they are n were not regulated. Many of them burned their hands and their hard-earned money.
“Furthermore, for a long time, female investors in semi-urban and rural India have been scammed by underground operators who run dodgy deposit schemes promising very high returns. We wanted to address these two audiences and warn them of the pitfalls. and ask them to choose a very well-regulated investment option like mutual funds,” he added.
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