Birla Sun Life to distribute MF through BoI

Birla-Sun-LifeBirla Sun Life and the Bank of India (BoI) have signed a Memorandum of Agreement, for distribution of MF schemes. As per the agreement, the public-sector bank would become the distribution partner for selling Birla's mutual fund.

After this deal, Birla will be using all the 3,100 branches of BoI for selling its products, said a press release by Birla Sun Life.

Talking about the deal, M Narendra, Executive Director of BoI said that the bank's branches will be able to provide a bouquet of products to the investors based on their needs, by different MF companies. This would also help the rural masses to be able to access thee products.

Currently, the bank has a customer base of 3.4 crore people who would now be available for Birla Sun Life MF business.

Meanwhile, in another development, Birla Sun Life has decided to revise its exit load structure for its scheme, Birla Sun Life Short Term Opportunities Fund. It would be made effective from February 15.

The scheme offers to provide regular income which is generated through investing primarily in the fixed income securities and market instruments.

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