DSP Merrill Lynch Fund Managers today signed a distribution agreement with Oriental Bank of Commerce as part of their strategy to enhance their retail reach. Oriental Bank of Commerce will distribute DSP Merrill Lynch Mutual Fund schemes through its network of branches spread across the country.

Mr. Alok K. Misra – Chairman and Managing Director, Oriental Bank of Commerce and Mr. S. Naganath – President and Chief Investment Officer, DSP Merrill Lynch Fund Managers made this joint announcement at a press conference held in New Delhi.

The initiative is in line with the strategy adopted by DSP Merrill Lynch Fund Managers to expand their retail investor base. Mr. S. Naganath, President & Chief Investment Officer, DSP Merrill Lynch Fund Managers said, “Mutual Funds, as an investment avenue are becoming increasingly popular with the retail investor. Offering advice on mutual fund investments is an extension of the value added services that are offered by banks. We see Oriental Bank of Commerce as an important partner for providing asset management products to Indian investors and are very happy to embark on this long-standing relationship.

Mr. Alok K. Misra – Chairman and Managing Director, Oriental Bank of Commerce said tie-up with DSP Merrill Lynch Mutual Fund is one of the many initiatives taken by the bank to provide its customers a combination of financial services & investment options under one roof. The tie-up is beneficial not only to the customers in terms of an investment opportunity but also to the bank in terms of the fee base income & the mutual fund in terms of access to a huge customer base wide a large branch network.

DSP Merrill Lynch Fund Managers is one of the premier asset management companies in India. DSP Merrill Lynch Fund Managers began operations in 1997 and currently has assets under management, including advisory and offshore funds, of Rs. 34,083.7 crore as at December 31, 2007. DSP Merrill Lynch Mutual Fund has a distinguished track record in the mutual fund industry and is committed to the highest quality of service, integrity and seeks to provide superior performance, value and benefit to the investment community. Merrill Lynch is one of the world’s leading wealth management & capital markets company and owns just under half of BlackRock, one of the world’s largest publicly traded investment management companies, with approximately $1.3 trillion in assets under management.

Both Oriental Bank of Commerce and DSP Merrill Lynch Mutual Fund Managers are leading institutions in banking and asset management business respectively and the joint initiative will result in pooling of synergies for mutual benefit.

Sourced From: Sampark Public Relations Pvt Ltd

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