L&T Mutual Fund, one of India’s top asset managers with total AUM of Rs 70,191 crore (as on Nov 30, 2020), has launched an integrated digital campaign called ‘Late Lateef 2021’ to reiterate the importance of investing early in Equity Linked saving Scheme (ELSS) for tax saving. The essential theme of the campaign is to educate masses on avoiding procrastination in everyday life and the snowball effects of delaying important tasks.
Through the ‘Late Lateef 2021’ digital campaign, the fund house plans to reach out to a larger pool of users, including millennials, who are interested in ELSS as an instrument to save taxes and also create awareness about the tax-saving tool. 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.
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.
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.