Tata MF ties up with South Indian Bank
Tata Mutual Fund on Monday entered into a strategic tie-up with the Kerala-based South Indian Bank for the distribution of Tata Mutual Fund schemes.
By PTI |
KOCHI: Tata Mutual Fund on Monday entered into a strategic tie-up with the Kerala-based South Indian Bank for the distribution of Tata Mutual Fund schemes.
The MOU in this regard was signed between Tata Asset Management Ltd Managing Director Ved Prakash and SIB Chairman and CEO Dr V A Joseph here.
The tie-up, the first by the Tata Asset Management in Kerala, would provide an opportunity to the bank's customers to invest in TMF schemes at the various branches, Chaturvedi told in a press meet here.
During the last one year, the returns from TMF have been 'very good', he said adding the aim was to reach one crore customers in the next three to five years from the present one million.
On the present market situation, he said equity markets of late have been very volatile. Over the last 15 years, the BSE index had grown from 1000 points to 12,000 points, a growth of 12 times. Long term equity market is providing investment opportunities, he said.
ADVERTISEMENT
TMF is present in 70 cities and the aim is to cover 500 cities in the near future.Dr Joseph said the agreement would help the bank meet diverse financial needs of its customers all under one roof. SIB has identified 200 branches across the country to offer mutual fund products to investors in the first one year and within another year all branches would be covered.
Download
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
The Economic Times Business News App for the Latest News in Business, Sensex, Stock Market Updates & More.
Download
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
The Economic Times News App for Quarterly Results, Latest News in ITR, Business, Share Market, Live Sensex News & More.
ADVERTISEMENT
