Sundaram Mutual Fund (SMF) has signed a new distribution agreement with Indian
Overseas Bank (IOB) that will see the latter distribute the entire range of
SMF's products through select branches.
operates 1,700 branches throughout the country with over 60 per cent of these
situated in the southern states.
bank has phenomenal reach and trust with the average retail investor. Retail
is the way forward for our business. We hope this initiative will help us
broaden our retail presence," said T P Raman, managing director of SMF,
speaking on this occasion.
fund will be imparting training to IOB staff in the distribution of mutual
fund products. IOB, in turn will use in-house IT to provide customer service.
have to explore new means to augment their non-interest income. We would like
to move towards delivering complete financial solutions to our customers.
We chose Sundaram Mutual as our partner because we are confident about the
quality of their products,
given the backing of the reputed Sundaram Finance group," said S C Gupta,
chairman and managing director of IOB.