Central Bank of India enters into distributorship agreement with Aditya Birla Sun Life AMC Ltd

Central Bank of India has entered into a distributorship Agreement with M/s ADITYA BIRLA SUN LIFE AMC LIMITED (ABSLAMC) for distribution of their Mutual Fund Products to its customers on Do it yourself (DIY) model. The participation by both the entities in this arrangement will result in offering the customers of Central Bank of India, an opportunity to unlock the value of their savings through various mutual fund products offered by M/s ADITYA BIRLA SUN LIFE AMC LIMITED (ABSLAMC).

Aditya Birla Sun Life AMC Limited (ABSLAMC) was incorporated in the year 1994. Aditya Birla Capital Limited and Sun Life (India) AMC Investments Inc. are the promoters and major shareholders of the Company. ABSLAMC is primarily the investment manager of Aditya Birla Sun Life Mutual Fund, a registered trust under the Indian Trusts Act, 1882. ABSLAMC also operates multiple alternate strategies including Portfolio Management Services, Real Estate Investments and Alternative Investment Funds.

ABSLAMC is one of the leading asset managers in India, servicing around 7.98 million investor folios with a pan India presence across 290 plus locations and a total AUM of ₹3,247 billion for the quarter ending December 31, 2023 under its suite of Mutual Fund (excluding domestic FoFs), Portfolio Management Services, Alternative Investment Funds, Offshore and Real Estate offerings.

Shares of Central Bank of India was last trading in BSE at Rs. 62.08 as compared to the previous close of Rs. 61.80. The total number of shares traded during the day was 1161773 in over 5560 trades.

The stock hit an intraday high of Rs. 62.46 and intraday low of 59.50. The net turnover during the day was Rs. 71216748.00.

Source : Equity Bulls

Keywords

CentralBankofIndia INE483A01010 DistributorshipAgreement AdityaBirlaSunLifeAMC DIY