DSP BlackRock AMC has signed a distribution agreement with Syndicate Bank as part of its initiative to expand retail distribution of DSP BlackRock Mutual Fund schemes. Syndicate Bank will distribute DSP BlackRock Mutual Fund schemes through its strategic branches spread across the country.
The MoU were exchanged by the Chairman & Managing Director of SyndicateBank, Shri M. G Sanghvi and Shri. S. Naganath, President & Chief Investment Officer, DSP BlackRock Investment Managers. The program was also graced by the presence of Mr. Hemendra Kothari, Chairman, DSP BlackRock Investment Managers and other dignitaries of the AMCs and from SyndicateBank.
Mr. S. Naganath, President and Chief Investment Officer, DSP BlackRock Investment Managers said “Mutual Funds, as an investment avenue, are becoming increasingly popular with retail investors. Offering advice on Mutual Fund investments is an extension of the value added services that are offered by banks. We are delighted to have a distribution agreement with Syndicate Bank for the distribution of DSP BlackRock Mutual Fund schemes and look forward to a long and fruitful relationship.”
Speaking on the occasion, Shri. M G Sanghvi, Chairman and Managing Director, Syndicate Bank said, “The Bank’s continuous endeavor is to provide one stop Banking and Investment solutions to its Customers. This tie-up with Asset Management Companies like DSP BlackRock Investment Managers is one such initiative to provide customers a wider range of investment options, other than the regular banking products. This would enable the Syndicate Bank branches to operate as a financial super market. Branches can now cater to the needs of its customers by offering various mutual fund schemes and help in strengthening the existing relationship with the Bank’s clientele base and provide an opportunity to cross-sell. This would also help in augmenting the fee-based income for the bank. The bank has an ambitious plan to expand its existing branch network from 2713 to 3000 and the ATM network from the existing 1240 to about 1800 across the country during the current year and to reach a global business of Rs.3,50,000 crores.”
