UTI MF Twitters,targets investors

UTI Asset Management Company plans to aggressively use social media and wireless technology for mobile phones to reach out to investors,a senior company official said.

8220;Sixty-three per cent of investment is done through community-based recommendations in India. Community can be friends,colleagues,relatives or social media like Twitter and Facebook. We are doing a lot of activities on Facebook and Twitter to educate investors,8221; UTI Asset Management Company Chief Marketing Officer Jaideep Bhattacharya said here.

8220;The idea is that wherever there is a discussion happening,you have to come and communicate or guide. We are building social media in a very big way,as people talk a lot through social media,8221; he said.

Known for its innovative marketing initiatives,the company has come out with initiatives such as tying up with Mumbai8217;s dabbawallas to distribute its NFO-Wealth Builder Fund-Series II,advertisements in Mumbai8217;s local trains and tying-up with Meru cabs to communicate with investors in the past.

8220;This year we are focusing on using wireless technology on mobile platforms,which would help us in penetration of new markets,reducing cost of transactions and knowledge dissemination,8221; Bhattacharya said.

Investors who want to know more about mutual funds could search on mobiles using the Internet,instead of calling up people,he said.

8220;We at UTI are enabling investors to learn more through mobile devices,8221; he said.

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UTI AMC is also the first company to build an SMS community in the mobile space,where it has five lakh SMS users to whom it sends messages on mutual funds,he said.

8220;Besides,we have also set-up a call centre to provide information to investors related to mutual fund products,8221; he said.

UTI AMC also plans to enhance the reach of its awareness programmes to corner a major slice of the business.

8220;If you have to increase your pie,you have to grow through knowledge. We are planning to go big on investor awareness programmes across the country,8221; he said.

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In order to highlight its brand,UTI AMC has started a project in Bihar where it works with vegetable vendors as well as marginal farmers.

8220;The people who come to vegetable vendors to shop have a latent need to invest,8221; he said.

The company is also using digital media,regional media and local newspapers to highlight its brand.

UTI AMC also plans to tie-up with NGOs for using street plays to educate people about various facets of investments.

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8220;We are also looking at how we can use street plays to communicate the basics of investments. We are looking at two states 8211; Maharashtra and Bengal,8221; he said.