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Tapping the young

Mutual funds must become simpler in terms of operating ease and investors must know what to expect, says Kalpen Parekh of IDFC Mutual Fund

IDFC Mutual Fund is customer-centric with its offerings and approach. One of the earliest AMCs to focus on investor education, the fund house has since started several innovative initiatives. For instance, the AMC communicated about financial literacy through 'One Idiot', a movie that educates college students about financial literacy. The movie has also evolved into a website by the same name, which tries to make finance easy. The fund house has also adopted interesting methods like blogs, videos, cartoons and social media linkages to propagate financial literacy.

The AMC has relatively fewer number of funds, yet they cater to every investor need. Parekh stresses that the funds are sharply defined to meet the needs of different customer segments. Moreover, the fund house is known to stick to investor-centric conviction which is clearly evident in the way it manages its flagship Premier Equity fund in which investments are open only through monthly SIPs. The entire focus of the AMC is centred towards helping investors make money.

Total assets: Rs 39,665 crore, Net profit: Rs 26.64 crore