Daijiworld Media Network – Mangalore (GA)
Mangalore, Jun 23: Mirae Asset Global Investment Management (India) Pvt. Ltd., Asia's leading Asset Management Group announced its tie-up with Corporation Bank, a leading public sector bank for the distribution of its mutual fund products. This is the first tie-up for Mirae Asset with a public sector bank. Through this tie-up Mirae Asset would be able to leverage on the reach of Corporation Bank pan-India presence of 1000 number of branches. The Corporation Bank –Mirae Asset Mutual Fund tie-up would facilitate Corporation Bank customers to invest in the equity and debt funds of the fund house. The Memorandum of Understanding (MoU) was exchanged between T MLakshmikanthan, GM, Corporation Bank and Arindam Ghosh, CEO, Mirae Asset Global Investment Management (India)
Pvt. Ltd.
On the occasion T M Lakshmikanthan, GM, Corporation Bank, said “Corporation Bank, keeping the aspirations of its customers, is offering wide range of products and services. The Bank is in the forefront in offering value-added and innovative products and services. The distribution of products of Mirae Asset Global Investment Management is one more step in that direction. The bank is already having tie up with 16 MF AMCs and is distributing these products at select branches across the country.”
Arindam Ghosh, CEO, Mirae Asset Global Investment Management (India) Pvt. Ltd., said "We are delighted on achieving this historic milestone of entering into a partnership with Corporation Bank for distribution of our mutual fund products. We strongly believe that this partnership would significantly add value to the bank as it would provide a platform for its large base of customers for investing into our product basket.” He further added "Considering that Corporation Bank has an extensive nation-wide network of 1000 branches, we would be able to leverage on their reach to serve their customers with innovative products managed and advised by our team of investment professionals in India and across the globe". In the last couple of months, Mirae Asset has grown rapidly both in terms of the number of branches opened as well as its employee strength. Since we started operations in November 2007, we have invested in opening 23 branches across the country. Our current employee strength is over 140 with 14 professionals in the
investment team.
About Mirae Asset Mutual Fund
Mirae Asset Mutual Fund is an integral member of the Mirae Asset Financial Group, one of Asia's largest independent financial services group. Mirae Asset Mutual Fund commenced operations in India in November 2007 and has since introduced 3 mutual fund schemes across equity and fixed income domains. Today, it manages over Rs 2160 crore of assets* for Indian investors. It has a wide distribution network comprising branch offices in 23 cities and investor service capabilities in an additional 35 locations across the country. Its team of talented professionals includes 14 investment personnel across the equity and fixed income domain. In addition to offering domestic mutual fund schemes to Indian investors, it also offers advisory services to its international affiliate offices.