Sundaram Asset Management Company, Chennai based asset management company that has assets under management of about Rs 36,497 crores as on September 30, 2020 has collected Rs 650 crore from its recent new fund offer (NFO). In their recently concluded Sundaram Bluechip Fund NFO which was open from September 17 to October 01, 2020 the fund managed to collect the amount from more than 46000 customers from 562 cities.
The AMC was able to collect this amount, despite the challenges of the COVID19 Pandemic and the lockdown, this collection figure is a significant increase over those of our previous two NFOs in the last one year (Sundaram Equity Fund – Rs 358.95 crore in September 2019 and Sundaram Balanced Advantage Fund Rs 485.12 crore in March 2020).
This was partly achieved by adopting Digital-First approach to the marketing and investment execution process. The AMC used a host of social channels, the Google Ads Network, and industry-relevant forums, to make its prospective clients aware of the USPs of the fund through live webinars, videos, informative posts, live Q&A sessions, podcasts, engagement stories. The brand adopted the theme of a Sumo Wrestler to express the key attributes of Bluechip Large Cap companies – Size, Strength and Agility. The idea was further reinforced with a powerful tag line - #SizeMatters.
To enable customers to transact in a completely frictionless manner, Sundaram Mutual created a wide range of digital enablers for both its distribution partners and investors. The fund house activated a distributor initiated platform where transactions could be initiated by distributors and executed upon investor authorization; Further, customized AMFI Registration Number (ARN) hard-coded links were provided, on request, to distributors to in-turn forward to their investors. By simply clicking on the link, investors could transact on a landing page with the distributor’s pre-filled details; A dedicated NFO Helpdesk was also set up to help with operational and digital transaction queries.
The AMC, also reached out to traditional customers through extensive advertising in the print media. They also facilitated these customers’ desire to convert their investment journey becoming fully digital by incorporating QR codes in these ads. Scanning the QR code enabled investors to complete their transaction in just a few clicks through the company’s web page. Thus, every newspaper copy became a virtual application form thus leading to millions of application forms in circulation.
Sundaram Bluechip Fund will be managed by Mr. Rahul Baijal – Senior Fund Manager – Equity and Mr. S. Krishnakumar, CIO - Equity. The benchmark chosen is the Nifty 100 TRI Index.
The fund reopens for subscription on October 14, 2020.