Kotak Mahindra Asset Management Company has entered into a distribution tie-up with banking major Oriental Bank of Commerce (OBC).

Under the agreement, OBC will offer the entire bouquet of Kotak Mutual Fund’s products across the bank’s branches.

Mr. Sandesh Kirkire, Chief Executive Officer, Kotak Mahindra AMC and Mr. Alok Kumar Misra, Chairman and Managing Director, OBC has signed the MOU.

Kotak Mahindra Mutual Fund is in the business of asset management, by providing investors with smart financial products, which are aimed at enhancing customers’ wealth, along with services that make the investing process easier. The company currently manages assets in excess of Rs. 22665 crores contributed by over 8 lakh investors (as on 31st January, 2008).

Shares of OBC declined Rs 13.45, or 5.36%, to settle at Rs 237.65. The total volume of shares traded was 17,376 at the BSE on Monday. The Stock markets witnessed a steep fall in today’s trading session. Selling pressure was seen across all sectors and some index heavy-weights were down quite substantially. BSE Sensex closed below 17,000.