DSP Mutual Fund, a name in financial services, announced the release of its latest short film, Stranger on the Bench. This thought-provoking film explores a captivating storyline that features a transformative conversation between two strangers that takes an unexpected turn and packs a punch.
The film’s narrative, while telling an intensely emotional story, also conveys a profound message on the importance of educating daughters about finance, money, and investments. It emphasizes that investing in the future of our daughters is a crucial aspect of ensuring their financial independence. It also goes on to throw light on ailments related to old age, which might seem all too familiar to many, and hits home.
This short film is not just a creative venture; it stems from the findings of DSP Mutual Fund’s Winvestor research conducted in 2022, with a specific focus on understanding women and their relationship with investing. The film touches on the insights gained from this research, stressing the significance of early-age education on investments and money management for daughters.
Interestingly, the Winvestor study had showed that husbands (21%) play a bigger role in introducing women to investing than their fathers (12%). Which means that women are most commonly being introduced to investing at a much later point in life i.e., after getting married, and a much lower proportion of women are learning about it by themselves as compared to men. Another interesting finding was that a vast majority (~70% of both male and female respondents) said they advise/ would advise their son & daughter differently about investing. In fact, 41% of parents said their own investment strategy will differ depending on their child’s gender. Top two reasons why they teach sons differently are: ‘Son will support a family and will carry more financial responsibilities’ (45%), ‘Men can handle more risks and complexities (29%) than women’. For daughters, the top two reasons were: ‘Daughter will be financially supported by her husband’ (35%), ‘Savings options are better than investment options for women’ (33%). The question is- Is this leading to an unequal development biased with different attitudes, as represented by the different reasons parents shared for teaching their sons & daughters differently?
With the release of this film, DSP has also launched its second, brand new official YouTube account, Stories For Good. The brand will host only emotional stories and heartfelt conversations on this account, recognizing fully well that even the most ardent investors don’t only want to consume rational numbers and investment insights all the time, which will continue to be hosted on DSP’s original YouTube channel. Stories For Good is also DSP’s concerted effort to connect to YouTube’s ‘Bharat’ audience in a more relatable, human manner. Further, the brand also has plans to utilize other media assets including Out-of-Home (OOH), Print, Digital and radio fund to create widespread awareness around the theme.
Abhik Sanyal, Head of Marketing at DSP Mutual Fund said, “The motivation behind ‘Stranger on the Bench’ is rooted in our commitment to empower and educate, while encouraging everyone to do better. Through this film, we address the importance of early financial education for daughters, at par with sons. Our research told us that parental mindset plays a key role in shaping men and women’s attitudes towards investing later in life, landing at the legacy hunter-gatherer mindset equilibrium. Earlier exposure helps men feel confident enough to chase higher returns even at the cost of higher risks as represented by their propensity to invest more in the stock markets vs women, while women tend to prefer control & stability far more than men when it comes to investing, not finding the confidence to take higher risks. Through ‘Stranger on the Bench’ and a few more hard-hitting films we are releasing in the next couple of weeks, we invite everyone to join the conversation and be a part of the movement that aims to empower our daughters much earlier in life!”
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