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Kamal Narang

Mr S. Naganath (left), President & Chief Investment Officer, DSP Merrill Lynch Fund Managers Ltd, with Mr Alok Misra, Chairman and Managing Director, Oriental Bank of Commerce, at a press conference. —

Our Bureau

New Delhi, Jan. 31 DSP Merrill Lynch Fund Managers on Thursday signed a distribution agreement with Oriental Bank of Commerce (OBC) to distribute its investment products especially mutual funds through the latter’s branch network.

The distribution agreement was signed by Mr Alok K. Misra, Chairman and Managing Director, OBC and Mr S. Naganath, President and Chief Investment Officer, DSP Merrill Lynch Fund Mangers here on Thursday. “In the coming days, profits for banks like us are not going to come from core operations only.

“It will also have to come from non-core activities like cross-selling of insurance and mutual funds.

“We have trained our staff on mutual funds. We will encourage more employees to get Association of Mutual Funds in India (AMFI) accreditation,” Mr Misra said.

OBC currently has about 1,305 branches and plans to take this number to 1,400 by end-September this year.

More Stories on : Mutual Funds | Public Sector Banks | Oriental Bank of Commerce

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DSP Merrill Lynch in distribution pact with Oriental Bank

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