DSP signs distribution accord with Oriental Bank

Chennai, Feb 5: DSP Merrill Lynch Fund Managers has signed a distribution agreement with Oriental Bank of Commerce as part of the latters strategy to enhance their retail reach.

The Oriental Bank of Commerce would distribute DSP Merrill Lynch Mutual Fund schemes through its network of branches spread across the country, a company release said here today. DSP Merrill Lynch Resident and Chief Investment Officer S Naganath said ''we see Oriental Bank of Commerce as an important partner for providing asset management products to Indian investors and are very happy to embark on this long-standing relationship.''

Oriental Bank CMD Alok K Misra pointed out that the tie-up with DSP Merrill Lynch Mutual Fund was one of the many initiatives taken by the bank to provide its customers a combination of financial services and investment options under one roof.

The tie-up was beneficial not only to the customers in terms of an investment opportunity but also to the bank in terms of the fee base income, he said adding the initiative would result in pooling of synergies for mutual benefit.

UNI