Asset management companies namely Reliance Asset Management, HDFC Asset Management and Kotak Mahindra Asset Management, have successfully led the investor awareness programme so far in the current financial year, according to data available with the Association of Mutual Funds in India
Reliance Asset Management have had 61,792 participants in its awareness programme, while HDFC and Kotak had 34,888 and 20,556 respectively.
The mutual funds association, which has recently got down to compile data on the investor awareness programme (IAP), revealed that 80% of these programmes are being conducted in B-15 cities in the top 15 towns of the country, categorised as B-15.
However, with AMCs, which are looking to increase their penetration and go beyond the B-15, would now have to take the initiative even in the smaller towns.
"Financial awareness is key to informed investing and we see it as a stepping stone to financial security. And, a large part of our awareness initiatives are aimed at encouraging investors in semi-urban and rural areas to participate in the India growth story," said Sundeep Sikka, CEO, Reliance Capital Asset Management, which had overall two lakh participants in the awareness programmes.
However, industry sources said AMCs would be under pressure. "The AMCs will now have to conduct such programmes even in smaller towns, where level of awareness is even lower," an official source told HT.