Birla Sun Life Mutual Fund join hands with Bank of India

Birla Sun Life Mutual Fund has entered into a MoU with Bank of India for a strategic alliance in order to distribute and market Mutual Fund products through branches of Bank of India.

Mr. A Balasubramanian, CEO, Birla Sun Life Mutual Fund said that this alliance has tremendous potential. Bank of India on one hand is having huge branch network while on the other hand, Birla Sun Life has completed a period of 15 years of wealth creation.

He also added that the fund house offers innovative investment solutions across asset classes that have been well recognized for their performance and is sure that the fund house can deliver great value to the investors together.

On the other hand, Mr. M Narendra, Executive Director, Bank of India said that providing diverse financial products under one roof to the customers, the Bank is committed to become a financial super market.

He also said that for the bank, it will be one more product to offer to its clients and thus meet the investment needs of the customers in a rising financial market.

Birla Sun Life Mutual Fund will be benefitted by the branches of the bank that stood more than 3100 across India and thus reach across to pockets where they have no representatives.

The branches of the fund house will be able to provide a bouquet of products for different needs of the investors offered by different mutual fund companies, suited to cater different segments of investors’ community.

Birla Sun Life Mutual Fund earlier this week has launched a 27-month close-ended fund–BSL Capital Protection Oriented Fund Series 1 (CPOS).

The fund seeks to protect capital by investing in high quality debt securities maturing in line with the duration of the scheme.

“The fund intends to invest 90 per cent of the capital on the debt side in high quality debt instruments and the balance shall be invested in the equity side,” Birla Sun Life Mutual Fund CEO, A Balasubramanian had said.