Sundaram joins venture with BNP Paribas

Mumbai, Jul 18: Sundaram Mutual fund has entered into joint venture with Europe based BNP Paribas Asset Management and its called as Sundaram BNP Paribas Mutual.

Sundram Finance Chairman Mr S Viji told reporters here today that Sundaram BNP Paribas Mutual will continue to unveil innovative and relevant products for investors, and own a bouquet that will have space for every investor objective, risk and liquidity preference. In this regard, the global fund portfolio of BNP Paribas will prodive a rich pipeline, especially in fixed income funds and structured products.

He said the partnership with BNP Paribas will enable us slice and dice the equity and fixed income market to conceptualize products that offer advanced long term financial solutions to investors,including retirement products. With a nationwide network of nearly 170 branches, an asset base of over Rs 5,615 crore, a deposit base over Rs 628 crore and well over 2.5 lakh loyal customers, Sundaram Finance occupies a unique position in thousands of Indian institutions and housholds as a rock steady entity to be relied on under any circumtances.

Meanwhile, Mr Gilles Glicenstein, Chairman BNP Paribas Asset Management also said, ''It is this acknowledged reputation that made Sundaram the obvious choice when BNP Paribas Asset Management was looking to etablish its presence in the Indian Asset Management space. BNP Paribas Asset Management is a Eurpoean giant with Euro 285 billion (over Rs 16,50,000 crore) assets under management and advisory(as on March 31,2006). BNP has a powerful presence in 20 countries, a staff strength of over 1400 and manages over 400 products.''

UNI