Bank to sell
23 February 2002
Corporation Bank has tied up with LIC Mutual Fund
to market the fundís products through its branches.
The arrangement will
initially cover four open-ended schemes ó LICMF Bond Fund, LICMF
G-Sec Fund, Dhanaraksha-89 and LICMF Childrenís 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.
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