L&T Mutual Fund, one of India's top asset managers with total AUM of Rs. 70,350 crore (as on Feb 28, 2021), has launched an integrated digital campaign called 'Late Lateef 2021' to reiterate the importance of investing early in Equity-Linked Savings Scheme (ELSS) in order to cut the tax outgo. The theme of the campaign is to educate the masses about avoiding procrastination in day-to-day life and the snowball effects of delaying important tasks.
Through the 'Late Lateef 2021' digital campaign, the fund house not only aims to create awareness about ELSS as a tax-saving tool, but also intends to reach out to a larger pool of users, including millennials, who are interested in ELSS as an investment vehicle to reduce their tax outgo. Millennials, who formed about 47% of new mutual fund investors in FY19 as per the latest data provided by Computer Age Management Services Limited ('CAMS'), could use ELSS as an investment vehicle to kick-start their wealth-creation journey early in life.
Mr Kailash Kulkarni, CEO, L&T Mutual Fund, said: "The 'Late Lateef 2021' campaign attempts to capture an average person's inclination to wait till the last day to do important work, which includes investing in tax-saving instruments such as ELSS. The key message of 'Late Lateef 2021' is that if you do not act in time, it is going to cost you. An investor should remember that ELSS is an excellent product not only for the tax-saving purpose but also for long-term wealth creation. The recent Sensex rally from around 26,000 in March 2020 to 50,000 in January 2021 has once again established that you are unlikely to reap the benefits of a sudden surge in stock prices if you do not continue to invest in a systematic and disciplined manner. And one simple way to stay disciplined and be on course is to make sure you act in time."
L&T Mutual Fund has created a page for ELSS www.ltfs.com/elss, which includes details about the campaign video, benefits of investing in the ELSS funds etc for guiding investors to choose the right option. The fund house also plans to introduce a goal calculator on this page helping investors to decide about the investment amount. The fund house is running this campaign on social media including YouTube, Facebook, Twitter and LinkedIn. The catchy audio rap is being promoted on audio apps like Spotify and Gaana.
The campaign will also be promoted with Digital Ads viz Display Ads, Google Ads and push notifications on business and financial portals for creating higher awareness.
About ELSS: ELSS is a scheme that offers tax benefits under Section 80C of the Income Tax Act, and it inculcates the habit of disciplined investing, which is necessary for potential long-term wealth creation. Tax planning is usually one of the most procrastinated decisions that is taken last minute and in haste. At the end of the year, people realise that they need to invest in financial instruments that will help them save tax and, in this haste, they do not spend adequate time evaluating optimal tax saving solutions. This film addresses this issue of procrastination and advises that ELSS is not only a tax saving option but also a medium to create potential wealth.