Corporation Bank ties up with Birla Sunlife Mutual Fund

MUMBAI, INDIA: Birla Sun Life Asset Management Company Ltd. and Corporation Bank have announced a strategic partnership for distribution of Birla Sun Life’s Mutual Fund products.

According to the agreement, Corporation Bank will offer the entire range of Birla Sun Life’s Mutual Fund offerings at the bank’s select branches. This initiative will reflect Birla Sun Life’s growth strategy in the Indian mutual fund sector. Internationally, the Sun Life brand is known for its innovative investment solutions and Corporation Bank is one of the most respected institutions in the Indian financial sector. The combination of the expertise and reach brought to the table by these two financial powerhouses will provide the Indian customer with a wider range of superior investment options under a single roof. 

Announcing the partnership with Corporation Bank, Mukul K Gupta, CEO, Birla Sun Life AMC, said, “It gives me great pleasure in announcing. our strategic marketing tie-up with Corporation Bank, one of the most efficient and trusted names in the public sector banking community.” He added, “We are positive that this tie up will give us an opportunity to tap the huge customer base of the bank across its vast branch network.”

“Today, Mutual Funds are increasingly becoming a preferred vehicle for investors to channelise their savings. Corporation Bank, keeping with the aspiration of its customers, is offering a wide range of products and services. The bank is in the forefront in offering value added and innovative products and services. The distribution of MF products of Birla Sun Life Mutual Fund is one more step in that direction. Sun Life Financial is a leading financial services organization providing a diverse range of wealth accumulation and protection products and services to individuals and corporate customers. We are proud to be associated with an international fund house of Sun Life’s caliber. This alliance will help us to distribute world-class products and will enable us to serve our customers better," said T M Lakshmikanthan, GM, Corporation Bank.

Birla Sun Life Asset Management Company Limited was established in 1994 and has grown significantly over the last 10 years, ranking amongst the largest fund houses in India. In addition to managing domestic Mutual Funds, BSLAMC has a Portfolio Management services Division and also manages two successful Off shore funds.

BSLAMC, the investment manager of Birla Sun Life Mutual Fund is a joint venture between the Aditya Birla Group and Sun Life Financials of Canada. With total assets under Management of Rs 27058.49 crores as on 31st August 2007, BSLAMC has consistently endeavoured to provide investors its superior risk adjusted returns in the family of funds, which includes diversified and focused equity schemes, balanced and monthly Income funds and vide range of Investment schemes designed to cater to every need of the investor.

Corporation Bank has already become the Composite Corporate Agent of LIC of India for selling Life insurance products and general insurance products of New India Assurance Company Ltd. Besides, the Bank is also dealing in GOI Bonds, PPF Scheme, accepting Direct Taxes and also Central Excise and Service Tax in certain cities. Besides, the Bank has also tied up with LIC Mutual Fund, DSP MF, Reliance MF, UTI MF, Franklin Templeton MF, Pru ICICI, ING and Kotak MF to distribute their products and it has already put in place, AMFI certified personnel at key branches all over India, to take up this activity.