J K Bhagat, CEO, Bajaj Allianz Financial Distributors, and Ashu Suyash, Managing Director and Country Head - India, Fidelity International, signed the agreement. With this tie-up Fidelity AMC's funds can now be sold by over 5500 agents of Bajaj Allianz Financial Distributors (BAFDL), a number that is expected to grow significantly as BAFDL increases the number of AMFI-certified agents by training their insurance agency network of more than three lakh agents.
Speaking on the occasion, Bhagat said, "We are delighted to announce our partnership with Fidelity even as we look to bring a wider range of products to our customers. We are working with our agency network to train a growing number of agents to be AMFI certified so that they are equipped to provide holistic advice to customers."
Suyash added, "Mutual funds are an under owned investment product in India and this has largely been due to low market penetration given the smaller number of mutual fund agents as compared to insurance agents. With this landmark tie-up with Bajaj Allianz Financial Distributors, we will be able to tap in to their network of agents who will now be able to offer their customers mutual funds along side insurance."