Principal Mutual Fund (MF) has informed that the company has linked up with India’s leading public sector lender, United Bank of India for distribution of its products through the bank`s branch network.

While lecturing on the tie up, Mr. Sudipto Roy, Business Head, Principal Mutual Fund stated, “We are happy to partner with United Bank of India, one of the trusted names in the banking industry, and this alliance will help us enhance the accessibility of our products. Mutual funds still constitute a small percentage of an investor`s savings and the future growth lies in expanding that share and reach out to a larger number of investors in a cost effective manner.”

Principal Mutual Fund (MF), formerly known as IDBI- Principal Mutual Fund, is a partnership between US based Principal Financial Group and nationalized banks Punjab National Bank and Vijaya Bank.  

On the other hand, Mr. S.Biswas, G.M. (Marketing & New Initiative), United Bank of India, comments, “We are committed to offering our clients the best of products and services. Our partnership with Principal Mutual Fund will enable us to offer more quality funds to our customers. This will benefit our customers, as they will have more choice and opportunities to diversify their portfolio in accordance with their financial needs.”

The source close to the company said that the proposed alliance will help bank to offer world-class products and also enable it to serve its huge clientele better.