LICMF products

Mumbai: Corporation Bank has tied up with LIC Mutual Fund to market the funds products through its branches.

The arrangement will initially cover four open-ended schemes LICMF Bond Fund, LICMF G-Sec Fund, Dhanaraksha-89 and LICMF Childrens Fund. LICMF has a corpus of Rs 2,400 crore and manages eight close-ended and eight open-ended schemes. It had mobilised around Rs 4,000 crore as on 31 January 2002.

Addressing a press conference here, Corporation Bank chairman and managing director Cherian Verghese said the bank will capitalise on the business synergies achieved through these alliances.