SBI Mutual Fund formalizes tie-up with Karur Vysya Bank

Mumbai, Sep 1 (UNI) SBI Funds Management Pvt Ltd, investment managers for SBI Mutual Fund, one of the largest mutual funds in the country, has formalised its tie-up with Karur Vysya Bank, a leading private sector bank in Tamil Nadu.

The customers of Karur Vysya Bank would now be offered mutual fund investment products by SBI Mutual Fund. The tie-up will be beneficial to investors in Tamil Nadu, as also to tap the markets of Chennai and Coimbatore, according to a release from SBI Mutual Fund.

The SBI Mutual Fund Investor Service Centre (ISC) in Chennai is one of the biggest, with Assets Under Management (AUM) of approximately Rs 1,500 crore and an investor base of more than three lakhs. It had a Investor Service Desk (ISD) each, in Tiruchirapalli, Madurai and Tirunelveli.

SBI Mutual Fund Managing Director Achal Kumar Gupta, commenting on the tie-up, said it was part of the Fund's effort to expand the reach in semi urban and rural investors.

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