Financial Daily from THE HINDU group of publications
Tuesday, Jan 13, 2004
Financial Daily from THE HINDU group of publications Tuesday, Jan 13, 2004 |
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Markets
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Mutual Funds Money & Banking - Public Sector Banks Vijaya Bank vends Principal group's MF products Our Bureau
Bangalore , Jan. 12 State-owned Vijaya Bank launched the distribution of Principal Group's mutual funds from its branches. The move follows the tripartite partnership between Punjab National Bank, Vijaya Bank and the Principal Financial Group to float an asset management company that will sell long-term mutual funds and related financial products. As part of this transaction, the Principal Financial Group will roll its existing fund management company, Principal Asset Management Company, into the joint venture. The Principal group is likely to benefit from the distribution of its products through over 5,000 branches of Punjab National Bank and Vijaya Bank.
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