afaqs!

AMFI on the lookout for a creative partner

By Biprorshee Das , afaqs!, Mumbai | In Advertising | October 05, 2010
Around 10 agencies are in the process of making presentations this week; the account size is estimated to be about Rs 15 crore

The Association of Mutual Funds in India (AMFI) is scouting for a creative partner, and is in talks with about 10 creative agencies. Sources tell afaqs! that presentations by the agencies will continue through the week.

Among the agencies are Percept H, DDB Mudra, Metal, Publicis India, and McCann Erickson. The account size is estimated to be around Rs 15 crore.

AMFI officials were not available for comment despite repeated attempts to contact them.

The trade body currently represents the 43 asset management companies in the country that in all manage assets of over Rs 7 trillion.

The apex body of all the mutual funds in India is looking at a communication strategy led by mainline media, which would help it reach further into the country.

Efforts have long been to increase awareness among investors about mutual funds; as the current penetration of mutual funds in India is rather low. In contrast, the global mutual fund industry boasts of much larger assets under management.

AMFI was incorporated in 1995 as a non-profit organisation to promote and protect the interests of mutual funds and their unit-holders, define and maintain high ethical and professional standards and enhance public awareness of mutual funds. It works through committees and working groups.

Interacting with the Securities and Exchange Board of India (SEBI), AMFI represents to SEBI, the government, Reserve Bank of India and other bodies all matters concerning the mutual fund industry.

U K Sinha, chairman and managing director, UTI Asset Management Company and Milind Barve, managing director, HDFC Asset Management Company are the chairman and vice-chairman of AMFI, respectively.

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