According to the fund house, despite the challenges of the COVID19 Pandemic, 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).
Sundaram Bluechip Fund will be managed by Rahul Baijal – Senior Fund Manager – Equity and S. Krishnakumar, CIO – Equity. The benchmark chosen is the Nifty 100 TRI Index. The fund reopens for subscription on October 14, 2020.
The fund house says that the success was partly achieved by Sundaram Mutual’s Digital-First approach to the Marketing and Investment Execution process.
Using a host of social channels, the Google Ads Network, and industry relevant forums, Sundaram Mutual leveraged various formats to make users aware of the USPs of the fund through live webinars, videos, informative posts, Live Q&A sessions, podcasts, engagement stories, etc, said a press release by the fund house.
The fund house activated a Distributor Initiated Platform (DIT) where transactions could be initiated by distributors and executed upon investor authorization. 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 press release said.
On the customer front, investments were accepted on website through a very simple three-step process either direct, or through their existing distributor, as also through various leading online platforms. Investors were also able to set up SIPs through a paperless eNACH (electronic mandate) feature.
Sunil Subramaniam, Managing Director, Sundaram Mutual said, “The response to the Sundaram Bluechip NFO was overwhelming in these challenging times! 60% of the applications received through the Digital mode has been a strong validation of the Digital First approach adopted by us. Sundaram Mutual has always been retail-focussed in its distributor and customer approach.”
He added that, “Given that Covid had created challenges on the physical infrastructure front for many of our partners, we had necessarily to make the ‘selling and investing’ journey as seamless and paperless as possible. Also, with an increasing number of prospective investors spending a significant part of their time on online media, it was imperative for us to engage them with online marketing campaigns as well as provide digital STP (Straight Through Processing) enablers at scale. The slew of features released by our team and our RTA, along with campaigns have been instrumental in the success of our NFO. On the campaign front, #SizeMatters as a tag line with the Sumo Wrestler visual has been very well received by investors and we are thrilled by the collections!”