New Delhi: ICICI Prudential Mutual Fund has signed up a strategic agreement with Kolkata-based United Bank of India (UBI) for distribution of its mutual fund schemes/plans across India in order to increase its distribution reach.

In a statement, ICICI Prudential Mutual Fund said that presently UBI will be allocating ICICI Prudential Mutual Fund Products through 182 arms crosswise the country to its clients.

The vast UBI’s network is perfectly positioned to offer us the necessary distribution platform, it said.

While speaking on the occasion, UBI General Manager (Marketing) Swapan Biswas stated the affiliation would step-up the business chances for both the partners.

Commenting on the agreement, Mr. Bharat Ghia, Vice President, ICICI Prudential AMC stated, “ICICI Prudential AMC is a customer outcome oriented organization and hence intends to offer an all round support to investors including reach. This tie-up will help us in popularizing Mutual Funds as an investment avenue in hitherto under tapped areas. The broad network of UBI Bank is ideally positioned to provide us the required distribution platform.”