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BW Businessworld

Create Wealth While Saving Taxes

Axis Mutual Fund’s “Khushi ke Aasun” campaign around ELSS is encouraging people to invest in this instrument that not only helps in saving taxes but also creates wealth for people

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Axis Mutual Fund recently launched its digital campaign ‘Khushi ke Aasun’ to help create awareness about its equity-linked savings schemes (ELSS) category and its benefits — tax saving as well as wealth creation.

The campaign — conceptualised by The Womb — humourously captures a scientist performing an experiment with his assistant. The creative brings alive the concept of wealth creation along with tax savings in an entertaining way. ELSS investment is shown to have the potential to generate better inflation-adjusted returns in comparison to traditional tax savings instruments.

The campaign is based on the fact that people typically invest in any financial instrument to save tax, without even thinking of what the investment would offer over a period of time. So, saving tax is considered as the over-riding prime reason behind such investment. ‘Khushi ke Aasun’ campaign was conceived on the backdrop of ELSS as a category being present for more than two decades and the assets under management (AUM) at Rs 76,631 crore, still at a measly 3.4 per cent of the total Industry AUM at Rs 22,36,836 crore.

Commenting on the campaign, Rohan Padhye, Vice-President, Marketing Communication & Digital Marketing, Axis AMF, says, “The challenge was to convey the functional attribute of ELSS, in a simple and entertaining way. The Jan-Feb-Mar (JFM) quarter is typically the tax season during which consumers hanker around to save tax. We felt it’s important to educate them that they should not just think about saving tax, but invest for wealth creation too, through ELSS. ELSS has become all the more relevant today given the low interest rates offered by traditional tax savings options.”

For many consumers, ELSS is one of the options to invest in order to save tax. The idea of the campaign was to make ELSS top-of-mind. Moreover, since the other target group — young traders, shopkeepers and service professional —  who, due to GST etc., has just come into the tax bracket, the pinch of paying taxes will be very real for them. The objective of the campaign was also to tackle that sentiment.

“The message in the communication is relevant not just during the tax season, but throughout the year. We will be reaching out to not just the traditional corporate salaried individuals but also the self-employed individuals, trader/shopkeeper/service professionals,” adds Padhye.