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Kotak Mahindra mutual fund enters into a distribution tie-up with Andhra bank

Tue, 01 Jan 2008 ANI

Hyderabad, Sept 19 (ANI/Business Wire India): Kotak Mahindra Asset Management Company Limited (KMAMC), one of India's leading mutual fund houses, today entered into a distribution tie-up with Andhra Bank.


Under the agreement, Andhra Bank will offer the entire bouquet of Kotak Mutual Fund products from the bank's 1386 branches. Sandesh Kirkire, Chief Executive Officer, Kotak Mahindra AMC and Rakesh Sethi, General Manager, Marketing, Andhra Bank signed the MOU.


On the occasion, Sandesh Kirkire, Chief Executive Officer, Kotak Mahindra Asset Management Company said, "The banking channel is one of the best platforms to reach out to retail investors. Offering advice on mutual fund investments is an extension of the value added services that are offered by banks. As experts in the field of wealth creation in India, our tie up with Andhra Bank will reinforce our commitment to expand retail participation. With this tie-up customers will gain easy access to the various schemes of Kotak Mahindra AMC at the branches where they do their banking transactions."


KMAMC, a wholly owned subsidiary of KMBL, is the Asset Manager for Kotak Mahindra Mutual Fund (KMMF). KMAMC started operations in December 1998 and has over 10 Lac investors in various schemes. KMMF offers schemes catering to investors with varying risk - return profiles and was the first fund house in the country to launch a dedicated gilt scheme investing only in government securities.


Kotak Mahindra Mutual Fund provides investors with smart financial products, which are aimed at enhancing customers' wealth, along with services that make the investing process easier. The company has a history of innovative products and services behind it, and has led the way for the industry on many counts. (ANI)


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