Reliance Mutual Fund enters into alliance with Allahabad bank

Mumbai, June 15 (UNI) Part of the Reliance Anil Dhirubhai Ambani Group, Reliance Mutual Funds today entered into a marketing alliance with Allahabad Bank for selling its entire range of mutual fund schems.

Through this alliance, Reliance Mutual Fund would be selling its entire range of 28 schemes comprising 13 equity oriented schemes and 15 debt oriented schemes through Allahabad banks sales network of 2098 branches spread across the country. Allahabad bank will deploy a sales team of 130 trained personnel for selling mutual fund schemes.

Commenting on the new alliance, Vikrant Gugnani, CEO, Reliance Capital Asset Management Ltd, said '' Allahabad Bank, with its nationwide sales network and expertise in para-banking, provides an ideal platform to extend our reach across the country.'' A C Mahajan, CMD, Allahabad Bank, said ''Allahabad Bank has been one of the frontrunners amongst the public sector banks to foray into selling of third party products which also includes whole range of insurance products and mutual fund products to provide one-stop financial solution to its customers.'' Reliance Mutual Fund has a presence in over 115 cities across the country.

UNI