Franklin Templeton Investments (India), one of the largest* fund houses in the country and Syndicate Bank, one of the oldest and most trusted public sector banks in India, announced on 21.9.12 that they have entered into an alliance to offer the entire bouquet of Franklin Templeton Mutual Fund’s schemes through the bank’s 2713 branches across the country.

On this occasion, Mr. M G Sanghvi, Chairman and Managing Director, Syndicate Bank in his message said: “It is our privilege to be associated with Franklin Templeton to offer their various mutual fund schemes to our valued customers.

Mr. Sanghvi said that in the recent past Bank has taken some more initiatives like introducing separate vertical for MSME & Fee-based Income. The tie-up with Franklin Templeton is another step in that direction which will enable the Bank to serve as a financial supermarket for its customers.

Expressing his views on the alliance, Mr. Harshendu Bindal, President, Franklin Templeton India said, “The banking channel, especially public sector banks, has a key role in spreading the mutual fund concept across the country, into smaller centres and overseas. This tie-up with an established bank such as Syndicate Bank is an important step in that direction, and will help us in enhancing the accessibility of our products.

Many Indians are realizing the importance of the role personal savings and investments will play in the quality of their retirement and in life, and are looking towards professional managers for investments. The Indian fund industry can help in diverting savings from traditional savings avenues to market related products.”

About Franklin Templeton

Franklin Templeton Investments (India) is the largest foreign fund house* in the country. It manages one of the most comprehensive ranges of mutual funds (40) catering to varied investor requirements and offering different investment styles to choose from. It has Offices in 33 cities and Collection Centres in another 105 locations across the country.

Franklin Templeton Asset Management (India) Pvt. Ltd. is a wholly owned subsidiary of Franklin Resources, Inc., a global investment organization operating as Franklin Templeton Investments. Franklin Templeton Investments provides global and domestic investment management solutions managed by its Franklin, Templeton, Mutual Series, Fiduciary Trust, Darby and Bissett investment teams.

The San Mateo, CA-based company has more than 60 years of investment experience and approximately US $ 731 billion in assets under management as of August 31, 2012.

*Source: AMFI Website (based on AAUM as on June 30, 2012)