Taurus MF, Bajaj Allianz join hands

Kolkata, Aug 26: The Taurus Mutual Fund (MF) on Tuesday, Aug 26 announced its tie-up with the Bajaj Allianz Financial Distributors Ltd (BAFDL), under which the latter would distribute the former's products through its 5,500-strong agency force.

Informing this to newspersons here, Taurus MF Chief Executive Officer (CEO) Waqar Naqvi exuded his confidence over the partnership's prospect in creating wealth for the common investors by offering them tailor made financial planning solutions. The Taurus Asset Management Company Ltd, incorpoarted in 1994, has at present around Rs 398 crore of assets under management and investor base of approximately 1.65 lakh.

BAFDL CEO Jitendra K Bhagat said the company planned to deploy the existing three lakh insurance agents by training them in the MF business, adding the tie-up would broaden the reach of Taurus MF in one stroke.

The Pune-based BAFDL, a joint venture between Bajaj Finserv Ltd and Allianz SE, is engaged in life insurance, general insurance and consumer service business and has a presence in over 30 locations in India.

The firm also planned to venture into credit card business in the current fiscal, Mr Bhagat said, stating that setting up of an asset management company was in the pipeline.

''The Allianz promoters have already applied to the Securities and Exchange Board of India (SEBI), in this regard,'' he added.

UNI