A BALASUBRAMANIAN: The crowd is very small, take that into account too. Then we realised that when the different purposes are being met and after doing this survey, we clearly felt that we need to actually go out in the market and make the SIP as something that you start early and then stay invested for a long period of time in order to get your aspirations fulfilled by the way of level of compounding which SIP offers in the long run and when the market goes through cycles. That’s something, again, it came as one of the analogies. We talked to 40-year-old people. At the age of 40 they started an SIP, and they made us believe that maybe it’s just very important to have a cash flow clarity to the before he goes in for a SIP. It is also something not necessarily that once you start looking at SIP as not as an investment but as an expenditure on a month-on-month basis, naturally many of the expenses you carry out, SIP also will do it like the expenses. But unknowingly, it will actually become as savings for you. Therefore you’re able to make your investment and create the wealth for the future. So, this is why very clearly, a lot of insights of this kind came. That said every individual in the country has got too many needs in life, apart from creating their own family, and started leading a family life while leading a new employment life. So, it is equally important to build for the future as it is for one house buying, car buying or maybe asset creation or maybe in the form of plans for the children’s education or retirements and so on and so forth.
So for those, we have to create multiple SIPs. Second, we said multiple SIPs, is because everyone doesn’t create investments for the purpose of only wealth creation in the long run. For example, if you have to invest in mid-cap, then you have to definitely take market fluctuation into account, risk associated with that too. It does give you a very high-level compounding in the long run, there’s no doubt about that but that doesn’t mean that can you put all your money in all in those schemes which gives you the highest performance? Let me say that within the schemes of equity, which are well created, that each one can give you a different experience taking into account the segment in which it operates, while meeting the longer-term goal that we set. That’s why we said that multiple SIPs are a must and that is why we started the multiple SIP. Third, I think we did, we looked into the overall SIP base in the country. We have roughly about, 1.6 crores applications that must be there in the case of SIPs or the registered SIP portfolios. Given the fact that households, the investable household in the range of about anywhere between 15 crores to 20 crores the households, I’m talking per family, I’m assuming four or five people, I’m also assuming the families who can afford to make investments in SIP. So, those kinds of household are about 20 crore households. So, where we are today and while there are 20 crore households, there is also a huge difference between them—about what is there today and what is the opportunity. Therefore we came with the idea called with Win With SIP and also make your car with an SIP, make your house with an SIP, therefore you win with an SIP and therefore every household should have SIP. So, that is the insight in the game and in fact, since the time we did this, the understanding of my own team members, understanding of how we need to work with it, the power of SIP is getting reiterated again and again on this basis.