UTI Mutual Fund ties up with Central Bank for selling MF schemes

Mumbai, June 27 (UNI) UTI Mutual Fund (UTI MF) has forged a strategic tie-up with the public sector Central Bank of India for distribution of its mutual fund(MF) schemes.

As per the strategic pact signed today, Central Bank of India will distribute the entire bouquet of UTI MF's schemes across the bank's selected branches, said a press release issued jointly here.

Speaking on the occasion, Mr U.K.Sinha, Chairman&Managing Director, UTI Asset Management Company said, ''This initiative endorses UTI MF's strategy to expand and value add its access network. With this customers of the Bank will get an opportunity to invest in UTI MF schemes closer to their doorsteps at the branches where they do their banking transactions.'' Ms H A Daruwalla, CMD of Central Bank of India said, ''Our agreement with UTI MF is a part of the bank's strategy to increase exposure in 'off balance sheet' activities. For distribution of UTI MF products the Bank has initially identified 100 branches across the country wherefrom mutual fund products will be sold to investors.'' UNI SN PM SKB1951