ICICI Prudential Mutual Fund has tied up with Syndicate Bank for distribution of its mutual fund products. Recently, fund houses like HDFC, UTI and Franklin Templeton have also partnered with Syndicate bank for distribution of their own mutual fund products.
Syndicate Bank, with a network of more than 2,700 branches, is known for its good presence in the tier-II and tier-III cities.
M. Anjaneya Prasad, Executive Director, of Syndicate Bank says, “This tie-up with the fund house will give customers a wider choice of investment options along with branches getting an opportunity to cross-sell. This would also help in augmenting the fee-based income for the Bank.
It is a valuable partnership for us, and a step towards inclusive growth, says Nimesh Shah, Managing Director and chief executive officer at ICICI Prudential AMC. “A lot can be done to reach out to the retail investors in the semi-urban and rural India. The alliance will help us provide our products to investors across geographies and sections.”