Leading asset management company DSP Merrill Lynch Fund Managers and South Indian Bank have entered into a strategic partnership for distribution of products.

Under the agreement, South Indian Bank will distribute DSP Merrill Lynch Mutual Fund schemes through its selected branches spread across the country.

Presently, South Indian Bank has got 503 branches and 229 ATMs across 23 states.

According to market experts, the strong presence of SIB in South India would make distribution of MF more effective in the Southern cities. The technological advancement of SIB has also been considered as added boon to its retail and corporate customers for direct investment in MF through net banking.

The present 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 India in 1997. It offers investors a broad range of investment options across various asset classes and risk parameters. It currently manages products which include fixed income, equity and hybrid schemes. The firm also offers portfolio management services and offshore advisory services.

As of May 31, 2008 it has assets under management, including advisory and offshore funds, of Rs 29,759 crore.