Kotak AMC inks pact with BoI

Kotak Mahindra Asset Management company has tied up with Bank of India to distribute its mutual fund schemes.

According to the strategic tie-up agreement announced on Wednesday, Bank of India would offer the entire bouquet of Kotak's mutual fund schemes at 1000 identified branches across the country.

"Banks are one of the most important distributors of mutual funds in India and are best poised to expand the market. We are happy to associate with Bank of India who will make our products accessible to a large retail base of investors," said Sandesh Kirkire, chief executive officer, Kotak Mahindra AMC.

About the recently approved gold and real estate funds, Kirkire said cost effectiveness, transparency and valuation are key concerns that AMCs have about launching these funds.

Despite the correction in the equity markets, mutual funds have not faced more than 5 per cent redemption, he added.