Reliance MF enters distribution tie-up with I0B
Reliance Mutual Fund, a part of Reliance Capital, on Thursday said it had entered into a distribution tie-up with Indian Overseas Bank(IOB). I0B will sell Reliance MF products through its 2,689 branches. "This agreement would help us expand our customer base, especially in Tier-ll and III cities, leveraging on the wide network of the bank," Reliance Capital Asset Management chief executive Sundeep Sikka said, adding this tie-up would help the company reach around 2k million customers of I0B. I0B chairman and managing director M Narendra said, "This would enable the bank to operate as a financial supermarket and help in strengtheningthe relationship of the existing and potential customer base, providing an opportunity to cross-sell". Reliance MF manages around Rs.1,40,000 crore across MFs, government, government-sponsored publicfunds, managed accounts and hedge funds. ptI