Franklin Templeton signs MoU with South Indian Bank

Kochi, Jul 12 (UNI) Franklin Templeton Investments today signed a Memorandum of Understanding with South Indian Bank for the distribution of its mutual fund products through the bank's network.

The MoU was signed by Franklin Templeton India's national sales head Sandeep Singh and South Indian Bank chief general manager M Valsan here.

Talking to reporters on the occasion, Mr Valsan said this agreement with one of India's leading fund houses will enable South Indian Bank to offer a holistic financial solution to the diverse financial needs of its customers.

Through the sale of mutual funds, the bank also expected substantial revenue income during the current year, he added.

Mr Sandeep Singh said that reaching out to a larger number of retail investors was the way forward for the Indian mutual fund industry to attain the critical mass for growth.

Stating that a very small percentage of the household savings in India was invested in mutual funds, Mr Singh said that the distribution of its products through the South Indian Bank network will help it to reach out to retail investors across the country.

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