JKB FSL achieves 1 billion milestone in Mutual Funds

Srinagar, June 9: JKB Financial Services Limited (JKBFSL), the wholly owned subsidiary of J&K Bank, has achieved a milestone of One Billion i.e. Rs Hundred Crore in Mutual Fund Assets under Management (AUM).

A statement said that the company celebrated the achievement yesterday at its headquarters in Jawahar Nagar.

J&K Bank’s GM (Subsidiary Management) Syed RaisMaqbool and GM (Cross Selling) Syed ShafatHussainRufai were present at the celebratory function, which was attended by MD JKB FSL Syed Aadil Bashir, Company Secy. Mudassir Ahmad Padder, CFO AshiqHussain Sheikh and other officials of the company.

While lauding this significant achievement, Bank’s General Managers advised the JKBFSL team to continue enhancing its product offerings, expanding its reach and providing innovative solutions in order to meet the evolving needs of its growing clientele.

Both the General Managers urged the participants to leverage their expertise and experience as financial advisors for better investment management services and wealth management services to the people of UT of J&K and Ladakh.

Speaking on the occasion, MD-JKB FSL said, “Achievement of 1 Billion Milestone in Mutual Fund AUM attests our relentless commitment of providing best financial services to our valued clients. It is a result of our team’s unwavering dedication, expertise, and customer-centric approach.”

“We offer a diverse range of mutual fund products that cater to the varied investment objectives and risk profiles of our clients”, he added.

He extended his heartfelt gratitude to the esteemed clients, whose unwavering trust and support, he said, has been instrumental in this remarkable achievement.

He further said that the average return on MF products in last three years has been more than 15% and the investors from UT of J&K and the rest of India have shown consistent faith in mutual fund investments.

Notably, JKB FSL Company is providing distribution of MF of all the AMC’s under one roof. The company has recently launched JKB mGrow – mobile app which offers better user interface and experience for subscribing mutual fund products.