The Hindu Business Line : Fidelity Fund ties up with Federal Bank

The bank Chairman, Mr M. Venugopalan, and the Managing Director and Country Head, Fidelity Fund Management, Ms Ashu Suyash, announced the distribution tie-up at a press conference here. Fidelity Fund Management’s entire suite of mutual funds will now be available at more than 600 branches of Federal Bank throughout the country.

Mr Venugopalan said that with the partnership, customers would have easier access to Fidelity’s range of products and this is another step towards offering the customers holistic financial solutions of Fidelity Fund mutual funds for retail investors to participate in the equity markets.

Ms Suyash said that distribution holds the key to the growth of the mutual fund industry and the company believes that banks, with their extensive branch networks and close relationship with customers, have a key role to play in popularising mutual funds as a preferred investment option.

She pointed out that the company is aiming to achieve a growth of 4-5 per cent of the Indian business in the next three years through this tie-up. Today, with total assets under management at over Rs 8,000 crore and more than 1.5 million customer accounts, Fidelity offers Indian investors an investment option through its five equity funds and four fixed income funds, she added.

Earlier, in his address, Mr K.S. Harshan, Executive Director of the bank, pointed out that Kerala’s seven districts are in the list of top non-metro cities, with a population having more than Rs 10 lakh income. Given the situation, there is ample scope for reaching out to more customers in the State, he said.

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