Franklin Templeton Investments on Tuesday announced adoption of Rangareddy district to improve penetration and awareness about mutual funds. As part of its District Adoption Programme, called ‘Shubh Laabh’, the programme would seek to educate people on mutual funds as an investment option for the consumers.

Speaking to presspersons here on Tuesday, Gaurab Parija, Director-Business Development & New Initiatives, said Franklin Templeton would look at spreading awareness through initiatives such advertisement and activation programmes, increasing distributor network with quality engagement and promoting mutual funds as an investment option.

Local representatives to be called MF Sevaks would be deployed to coordinate various educational activities such as investor camps and contact programmes which would be supported with rich content, interactive tools and mass media campaigns, he said.

The District Adoption Programme, an initiative backed by SEBI, looks at adoption of 178 districts across the country by various mutual fund houses to improve penetration and awareness about mutual funds. “We have decided to adopt 10 districts and already three districts in Orissa, Rajasthan and Tamil Nadu were adopted. After Rangareddy district today, we will be working on six others in coming months,” Mr. Parija said.

In the adopted districts, an investor meet would be organised each week to explain about the mutual funds and various schemes and benefits associated with them. “We are also coming up with supporting material such as comic books and booklets that detail mutual funds in simple fashion and demystify them,” he added.