DSP BlackRock Investment Managers have signed a distribution agreement with Syndicate Bank as part of its initiative to expand retail distribution of DSP BlackRock Mutual Fund (MF) schemes. Syndicate Bank will distribute DSP BlackRock Mutual Fund schemes through its strategic branches spread across the country.
The MoU in this connection were exchanged by the Chairman & Managing Director of SyndicateBank, Mr. M. G Sanghvi and Mr. S. Naganath, President & Chief Investment Officer, DSP BlackRock Investment Managers. The program was also graced by the presence of Mr. Hemendra Kothari, Chairman, DSP BlackRock Investment Managers and other dignitaries of the AMCs and from SyndicateBank.
Mr. S. Naganath, President and Chief Investment Officer, DSP BlackRock Investment Managers said “Mutual Funds, as an investment avenue, are becoming increasingly popular with retail investors. Offering advice on Mutual Fund investments is an extension of the value added services that are offered by banks. We are delighted to have a distribution agreement with Syndicate Bank for the distribution of DSP BlackRock Mutual Fund schemes & look forward to a long and fruitful relationship.”
Mr. M. G. Sanghvi, Chairman and Managing Director, Syndicate Bank said, “The Bank’s continuous endeavor is to provide one stop Banking & Investment solutions to its Customers. This tie-up with Asset Management Companies like DSP BlackRock Investment Managers is one such initiative to provide customers a wider range of investment options, other than the regular banking products. This would enable the Syndicate Bank branches to operate as a financial super market. Branches can now cater to the needs of its customers by offering various M F schemes and help in strengthening the existing relationship with the Bank’s clientele base and provide an opportunity to cross-sell. This would also help in augmenting the Fee-based income for the Bank.
The Bank has an ambitious plan to expand its existing branch network from 2,713 to 3,000 and the ATM network from the existing 1,240 to about 1,800 across the country during the current year and to reach a global business of Rs.3,50,000 crores. On the eve of Founder Day i.e. 20.10.2012, Bank will be introducing some new initiatives – SyndicateBank Global Gold Debit Card , SyndicateBank RuPay Kisan Card and SyndNavarathna a Savings Account with Nine Special feature for salaried class”
About DSP BlackRock Investment Managers..!
DSP BlackRock Investment Managers Pvt. Ltd., a Joint venture between the DSP Group and BlackRock, is one of the premier asset Management Companies in India and currently manages assets, including offshore advisory funds of Rs. 39,077 crore (As on Sep 28, 2012). The DSP group has a track record of close to 150 years and Mr. Hemendra Kothari through its investment companies owns 60% stake in the joint venture. BlackRock Inc. which owns 40% stake in the Company, is the largest asset management company in the world and manages assets in excess of of USD 3.56 trillion (as on June 30, 2012).
www.dspblackrock.com
About Syndicate Bank..!
Syndicate Bank was established in 1925 in Udupi and has been synonymous with the phase of progressive banking in India. Spanning over 87 years of pioneering expertise, the Bank has created for itself a solid customer base of more than 28 million, comprising customers of two or three generations. Being firmly rooted in rural India and understanding the grass root realities, the Bank's perception had vision of future India. It has been propagating innovations in Banking and also has been receptive to new ideas, without however getting uprooted from its distinctive socio-economic and cultural ethos. Its philosophy of growth by mutual sustenance of both the Bank and the people has paid rich dividends.
The Bank has been operating as a catalyst of development across the country with particular reference to the common man at the individual level and in rural/semi urban centers at the area level. Currently the domestic branch network of Syndicate Bank is 2,713 comprising 874 rural, 672 semi-urban, 585 urban, 568 metro and port town branches and 14 Ultra small branches.
The Bank created history by opening 108 branches across the country on a single day. The Bank also has its overseas presence by having a branch in London and managing two exchange houses in Qatar and Sultanate of Oman.
For More details:
Arun Rajendran Krishna Moorthy
DSP BlackRock Ketchum Sampark
M: 9833005393 M: 9442191717
arun.rajendran@dspblackrock.com
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