ING Vysya to focus on investor education

ING Investment Management (India) Pvt Ltd., is all set to educate investors on investing their wealth, said top officials of the company told reporters while inaugurating ING Vysya Mutual Fund's office in the city.

Presently, mutual fund market across the country is around Rs 3 lakh crore of which the Gujarat market's potential is around Rs 12,000 crore and the Saurashtra-Kutch market's potential is approximately Rs 700 crore annually.

With the increasing investment options and the equity market scaling new highs, a majority of companies in the market, especially the middle-man network working for mutual funds firms have failed to educate investors and are making `impossible' commitments on returns.

However, ING Vysya Mutual Fund is all set to tap this booming equity and investment market potential, but with the difference as company would focus on educating investors rather than simply making commitments which are impossible.

While speaking to Business Standard, Kavita Hurry, MD-CEO explaining on objective for marking their presence in Rajkot and Saurashtra-Kutch region said, "There are tentatively 2,800 NSE-BSE terminals operational in the city registering business volumes to the tune of Rs 1 crore a day, meaning that the city has a good investment appetite and sounds good for financial conglomerate like ours, so this move is in line with company's growth momentum and will serve to increase its penetration in the region."

With an investor base of 1.45 lakh across 35 branches of the company, ING has launched a focussed retail initiative worldwide to get to know the customer and his investing habits better.

This branch follows in the time honoured and proven strategy of getting closer to the customer to understand him better, provide bouquet of products and array of world-class investment services, added Hurry.

Emphasising the market potential, the company said that it would try to educate investors for the same, Peshotan Dastoor, Senior Vice President said, "Rajkot has a base of traders rather than long-term investors. So we would focus on creating and strengthening long-term investor base in Rajkot by explaining to them on utilising frozen funds, especially funds in banks in current accounts and provide them tailor-made investment solutions keeping in view the individual and mass investment capacity."

We have investment product range for an individual, small and medium enterprises (SMEs), corporate entities and others, through which we would guide them in wealth creation process and wealth management accordingly, said Dastoor.