Sign up for afaqs! Newsletters
Company Brief
Mumbai, March 27, 2017
DSP BlackRock Investment Managers Pvt. Ltd, one of India’s premier asset management companies, announced the launch of #UnfixYourMoney - its new digital campaign to promote DSP BlackRock Money Manager Fund.
The campaign highlights the ‘fixed’ mindset that plagues many of us while making use of our hard earned money. Liquidity needs can make one think that it’s prudent to keep money in a savings bank account and settle for the interest rates offered by banks. Even if some banks promote higher interest rates, there always are riders, terms and conditions associated. Many don’t even move their saved money in their bank account to Fixed Deposits (FDs) which can give a higher interest rate as they may want access to those savings to pay bills, take care of EMIs or other regular expenses.
Even those who consider FDs to earn better returns have to commit to a certain timeframe in order to earn the stated interest rate. That means the money, for all practical reasons is locked away. Majority of people get lured into committing for a longer timeframe than they know they can afford to block the money for, because longer tenure gives them a higher interest rate. Another key aspect that people may not realize is that withdrawal once the FD matures is not tax efficient beyond a threshold amount of interest earned. Moreover, the pre-mature breakage of fixed deposit may levy penalties on the interest earned till the time of breakage.
Through the #UnfixYourMoney campaign, DSP BlackRock aims to create awareness about an alternative solution: DSP BlackRock Money Manager Fund, which helps to avoid the pitfall of these traditional solutions and aims to gain from the advantages offered by a new age, contemporary solution. The campaign aims to urge people to unfix their thinking from only putting away their money in the fixed 4-6% of savings accounts or suffering from the fixed tenure of FDs while earning a chance to get better returns than both savings accounts as well as FDs.
Leading the campaign are three new videos that take the viewer over the evolution of savings from the time when people just put it away physically, to then moving on to saving it in a bank, to eventually realizing how smart it is to use a DSP BlackRock Money Manager Fund to manage their money in an effective manner. The videos also highlight the conundrum that investors face with traditional ‘fixed’ saving choices as against the flexibility and accessibility that make the instant redemption facility and DSP BlackRock Money Manager Fund, ideal solutions to ‘unfix’ their money. The campaign has been conceptualized after the successful launch of the company’s new “instant redemption” service that allows investors to realize their redemption proceeds credited in the bank account in real time at any time of the day or year.
Aditi Kothari Desai, EVP and Head - Sales, Marketing & E-Business, DSP BlackRock said, “Change is always difficult, but it is essential for real progress. Most of us find it easy to stick to what we know and have experienced earlier, not realizing that the world is changing and there is almost always a better way to do things. We see this play out the most with the Indian preference for traditional savings instruments. But when there are new age solutions that can ‘fix’ this problem, why not ‘unfix’ your thinking and make the right move? Our DSP BlackRock Money Manager Fund is a great investment tool for those looking beyond traditional saving options as it not only offers the potential of better tax efficient returns, but with the instant redemption facility, goes a step further with its promise of instant withdrawal and access. So why keep your hard earned money idle? Make it work hard for you.”
Santosh Navlani, SVP - ebusiness, DSP BlackRock said, “Over last several years, the asset management industry has tried to convince retail investors to consider Mutual Funds for investing for short term horizons like a few days to a few months. However, the retail investors have always associated Mutual Funds with long term investing. Our endeavor through this campaign is to highlight the power of instant redemption and encourage investors to channelize their idle savings and emergency funds into DSP BlackRock Money Manager Fund. The idea is to present Money Manager Fund as a potential alternative over traditional savings instruments that in effect offer limited benefits by either providing a fixed interest rate through savings accounts or are fixed in terms of completion of tenure or penalty towards pre-mature withdrawal. We believe that the enhanced investor experience will serve to will bring in more number of new investors and hence help grow the industry”.
Below are the videos:
Video – 1
Video – 2
Video – 3
For further information please contact:
DSP BlackRock Investment Managers Pvt. Ltd.
Arun Rajendran
E-mail: arun.rajendran@dspBlackRock.com
MOB: +919833005393