DSP Merrill Lynch signs MoU with South Indian Bank

As per the deal, South Indian Bank would distribute DSP Merrill Lynch Mutual Fund schemes through its select branches across the country, a company release here said.     

"Offering advice on mutual fund investments is an extension of the value added services that are offered by banks. 

We see South Indian Bank as an important partner for providing asset management products to Indian investors and are very happy to embark on this long-standing relationship" DSP Merrill Lynch Fund Managers, Products and Business Development, Head, Pankaj Sharma said.     

The initiative is in line with the strategy adopted by DSP Merrill Lynch Fund managers to expand their retail investor base.     

DSP Merrill Lynch Fund Managers began operations in 1997 and as of May 31, 2008 has assets under management, including advisory and offshore funds, of Rs 29,759 crore.