In 2017, the Association of Mutual Funds in India (AMFI) launched the "Mutual Funds Sahi Hai" campaign to increase awareness of mutual funds (MF) investments. Navneet Munot, MD & CEO, HDFC AMC says that this campaign played a key role in simplifying mutual funds, breaking down the perception of complexity, and brought the category into everyday conversations.
Munot states that HDFC AMC is now building on the foundation on the back of the "Mutual Funds Sahi Hai" campaign to help investors make informed choices. He also shares why HDFC AMC designs initiatives for different groups, why trust in the BFSI sector is built by breaking down complexity, staying transparent, and always putting the investor first.
Excerpts from the conversation:
How has the year panned out for HDFC AMC?
The year has been very encouraging for us in the investor education space, marked by various unique initiatives aimed at enhancing penetration and awareness across India educating about Mutual Funds as a preferred Investment Vehicle.
Through Mission Samriddhi, we had the privilege of working closely with the armed forces to build financial literacy. Barni Se Azadi encouraged women to move beyond traditional savings habits and start investing. This is an initiative which has gone from strength to strength over the last few years. For the youth, Mission MARS and Campus Connect introduced the basics of disciplined investing in a way that feels relevant to them. ’. Also, for Zindagi ke Liye SIP, we used a storyline that connects well with life journey to highlight the power of long-term investing. Together, these initiatives have helped us reach out to investors in a novel way and could go a long way in building investor trust and awareness about Mutual Funds as an Investment Vehicle.
In spite of the growth in last few years, Mutual Fund penetration is still low in India. As of Jul’25, ~27% of Individual Assets was attributable to B30 locations, showing the huge potential for growth ahead. As is the case with numerous other industries in India, smaller locations are the real growth engine, and driving awareness there means speaking the language of the people, both literally and emotionally. Vernacular communication plays a very important role in building trust and relatability. That’s why we have actively ensured that most of the investor awareness content is available in regional languages.
You have been quoted as saying, ‘Our mission is to be the wealth creator for every Indian and our vision is to be the most respected asset manager in the world”. What are the challenges that prevail in India when it comes to investments in Mutual Funds and on the importance of mutual funds?
Mutual funds in India have grown rapidly, but there is still a long way to go before they become the default savings choice. A large share of household money still goes into gold or real estate, while financial assets remain under-owned. This is due to limited awareness and age-old habits of investing in physical assets.
Building trust and improving financial literacy are therefore as important. Access is another challenge, though over the last few years, technology has helped expand reach across smaller towns. The real power of mutual funds is that with small amounts, people get diversification, professional management, and transparency. That’s why they can be a true wealth creator for individuals and for the country. It is important to drive home this message across households so that fruits of India’s economic progress are reaped by the masses.
Along with AMFI, the entire Mutual Fund industry has been advertising aggressively on mutual fund investments. How has this helped the industry and HDFC AMC in driving conversations and conversions?
The “Mutual Funds Sahi Hai” campaign by AMFI has been a real game-changer for the industry. It managed to simplify mutual funds, break down the perception of complexity, and bring the category into everyday conversations. For the first time, people across age groups and geographies started looking at mutual funds as a simple, transparent, and accessible option for their investments.
This broad-based awareness has been invaluable. At HDFC AMC, we see our role as building on that foundation. Our focus is on helping investors make informed choices based on their goals, time horizon, and risk appetite. This combination of AMFI’s mass awareness and our investor-centric investor education initiatives could help to strengthen long-term understanding, awareness and confidence in mutual funds as an investment vehicle of choice.
Coming to the campaign 'Barni Se Azadi', targeting women investors. Traditionally, women have been known to save money at home or in fixed deposits from their monthly expenses. How are you motivating women to transfer their money from the home and FDs to mutual funds?
Barni se Azadi was launched in 2021, the year of Azadi ka Amrit Mahotsav. I believe women in India have always been remarkable savers and managers of household finances, often balancing multiple needs within limited resources. Whether it was carefully setting aside money in a barni at home or keeping it safe in a fixed deposit, we have seen many women save diligently.
This discipline has been the backbone of family security for many households. With our campaign “Barni Se Azadi”, the idea is not to change that instinct, but to channelize it more productively. By moving beyond traditional avenues, women can make their money work harder through mutual funds, benefiting from professional management, diversification, and the power of compounding. The aim is to encourage them to take that next step, so their natural habit of saving translates into long-term wealth creation. In doing so, we hope to empower women to take greater charge of their financial futures. Given that mutual funds remain underpenetrated, how are you driving awareness and growth in smaller markets, and what role has regional communication played in aiding conversions?
What share of investments comes from metros and Tier I markets vis-à-vis Tier II and III cities?
In spite of the growth in last few years, Mutual Fund penetration is still low in India. As of Jul’25, 27% of Individual Assets was attributable to B30 locations, showing the huge potential for growth ahead. As is the case with numerous other industries in India, smaller locations are the real growth engine, and driving awarenessthere means speaking the language of the people, both literally and emotionally. Vernacular communication plays a very important role in building trust and relatability. That’s why we have actively ensured that most of the investor awareness content is available in regional languages.
BFSI is often viewed as a complex category. How do you simplify communication for investors, and what is the cornerstone of investor education at HDFC AMC? Also, considering trust is crucial in BFSI, what are the key challenges in building and maintaining it?
Finance by itself can feel complex for most, which is why at HDFC AMC we place simplicity at the heart of our communication. For us, investor education is not just about awareness but about empowerment. As they say personal finance is truly personal and reaching out to different cohorts with a message that strikes a chord with
their financial aspirations holds the key.
We design initiatives for different groups viz. Barni Se Azadi and SIP Saheli campaigns for women, Mission Samriddhi for the armed forces, Bharosa for the specially-abled (through sign language), and Campus Connect and Mission MARS for students and young savers. For the larger public, Zindagi Ke Liye SIP spreads the message of disciplined investing, while our upcoming Future Ready program will help retirees manage their lifelong savings and build sustainable income. Trust, the cornerstone of BFSI, is built by breaking down complexity, staying transparent, and always putting the investor first.
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