Mirae Asset partners with Saraswat Bank

Mirae Asset Global Investment Management (India) Pvt. Ltd. today announced its tie-up with Saraswat Bank, the largest co-operative bank for the distribution of its mutual fund products. Through this tie-up Mirae Asset would be target increasing its reach especially in the smaller towns given the extension branch network of Saraswat Bank. The Saraswat Bank – Mirae Asset Mutual Fund tie-up would facilitate Saraswat Bank customers to invest in a range of equity & debt schemes of the fund house.

Speaking to media personnel, Mr. Arindam Ghosh, CEO, Mirae Asset Global Investment Management (India) Pvt. Ltd., said “This strategic tie-up with Saraswat Bank is a significant step forward for us as it provides us with an important platform to offer innovative products to the large base of Indian investors. Saraswat Bank has a commendable presence in the smaller cities & villages especially in Western India. We strongly believe that this partnership would add significant value to the bank as well since it would provide a platform for its large base of customers for investing into our Equity and Debt products.

Mr. Ghosh further added “Saraswat Bank with its strong network of around 153 branches around 5 states has build tremendous trust among its customers who will definitely benefit as this partnership will provide them an avenue into investing in our mutual funds and thus benefit from the expertise of our team of investment professionals in India and across the globe”

Mr. S K Banerjee , Managing Director Saraswat Bank said, “Saraswat Bank signs MOU with Mirae Asset for the distribution of Mutual Fund Investment Products. The Bank has assigned highest priority for earning fee-based income by distributing third party financial products and services. We have in the past successfully tied up with various Insurance and Mutual Fund houses. Tie-up with Mirae Asset is the latest one in this respect.

We understand that Mirae Asset is one of the leading players in the Asian Financial market with strong and committed promoters with good products. Bank will utilize its vast network of branches across five states to distribute their mutual fund products to customers. This tie-up is believed to bring up synergies of both the financial organizations and shall prove to be advantageous proposition for all the customers.’’

In the last couple of months, Mirae Asset Mutual Fund has grown rapidly both in terms of the number of branches opened as well as its employee strength. Mr Ghosh said, “Since we started operations in November 2007, we have invested in opening 23 branches across the country. Our current employee strength is over 140 with 14 professionals in the investment team.

Sourced From: Adfactors Public Relations Pvt Ltd