Date:06/01/2005 URL: http://www.thehindubusinessline.com/2005/01/06/stories/2005010601550600.htm

Back Union Bank to sell Principal MF products

Our Bureau

Mumbai , Jan. 5

PRINCIPAL PNB Asset Management Company has tied up with Union Bank of India for distribution of their mutual fund schemes.

This tie-up will enable Principal to distribute its mutual fund schemes through Union Bank of India's 2,020 branches, according to a company press release.

Mr Sanjay Sachdev, CEO and Managing Director, Principal PNB AMC, said, "Banks provide the largest distribution channel for financial products, including mutual funds. This tie-up will help us reach out to more retail investors and our MF schemes will be accessible to them to meet their investment needs."

Union Bank of India Chairman, Mr Cherian Verghese, said the alliance would help the bank provide all services and products under one roof.