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Oct 01, 2008, 04.43 PM IST | Source: Moneycontrol.com

ING Investment Management opens branch at Madurai

ING Investment Management, one of India’s fastest growing fund houses and part of the world’s largest financial services company, has opened its first full-service branch at Madurai.

ING Investment Management , one of India’s fastest growing fund houses and part of the world’s largest financial services company, has opened its first full-service branch at Madurai.

 

Mr. T. Kannan, Managing Director of Thiagaraja Mills and former Chairman, CII-Southern Region, inaugurated the 36th full service branch in India and the fifth one in Tamil Nadu (in addition to the already established ones in Chennai, Tirupur, Trichy and Coimbatore). The Madurai branch is located at #105, Vakil New St, Madurai - 625 001 Tel: +91 452 4506020/22; Fax: +91 452 4506021.

 

The branch will remain open for customer transactions from 9:30 a.m. to 5:30 p.m., Monday through Friday. The branch will offer entire range of ING mutual fund products and services to cater to different customer profiles and needs. The branch has good parking facilities that will provide greater convenience to the customers.

 

Mr. Navin Suri, Vice President & Director (Sales & Distribution), ING Investment Management India, said, “ING Investment Management has strengthened its retail operations in Tamil Nadu by opening a full service branch at Madurai, a tourism centre, which has tremendous market potential due to its proximity to lot of religious places. The high literacy rate of Madurai makes it an attractive proposition for educating the prospective investors about global investment solution as a diversification tool. We plan to kick-start various educational initiatives to create awareness about financial planning. The Indian MF industry's total AUM could grow at around 33% year-on-year from $92 billion in March 2007 to $350-$440 billion by 2012. To achieve this, penetration to tier II & III cities will be necessary for every player.”

 

The opening of the new branch office at Madurai is an integral part of the Company’s strategy to continue to invest in infrastructure and reach to regional commercial centres and reach out to a wider group of retail customers and deliver better access to distributors. This branch follows the time honored and proven strategy of getting closer to the customer to understand them better.

 

In India, ING Investment Management (I) Pvt Ltd has an investor base of over 1.52 lakh with assets under management of Rs. 6,736.64 crore (excluding fund of funds) as of August 31, ’08 (Source: www.amfiindia.com). It currently manages 21 single manager schemes and 14 multi-manager schemes.

 

Sourced From: Adfactors Public Relations Pvt Ltd

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