Baroda Pio AMC ties up with Karvy to strengthen its reach

In a move, further re-affirming the commitment to servicing investors in the remotest corner of the country, Baroda Pioneer AMC ("BPAMC") has announced a strategic expansion plan to strengthen its reach. BPAMC has tied up with Karvy Computershare Investor Service Centres to provide Investor Services facility at 203 locations. With effect from October 1, 2012, Baroda Pioneer Mutual Fund would start accepting transactions at following additional 126 cities, in addition to the 77 locations already active.

Commenting on this development, Jaideep Bhattacharya, Managing Director, Baroda Pioneer Mutual fund said, "India is a big country not only from the size and people perspective, but also from a variation perspective. Reaching out to investors in rural and Semi-Rural area is not easy. While rural India has tremendous propensity to save, it is not converted into investments leading to savings in financial instruments. We at Baroda Pioneer are working on reaching to the furthest corner of the country and this tieup with our service partner KARVY will help us penetrate further into the country. This will not only help us to reach beyond the top 15 cities but also help mutual funds to penetrate in Tier III towns and beyond and thus grow."

BPAMC currently operates in over 56 cities in India and plans to expand to Tier 2 & Tier 3 cities where the next phase of mutual fund growth is likely to materialize.