JKB FSL achieves 1 billion milestone in Mutual Funds (AUM)

Senior officers of J&K Bank and JKB FSL posing together during a function at Jawahar Nagar, Srinagar.
Senior officers of J&K Bank and JKB FSL posing together during a function at Jawahar Nagar, Srinagar.

Excelsior Correspondent
SRINAGAR, June 9: JKB Financial Services Limited (JKB FSL), the wholly owned subsidiary of J&K Bank, has achieved a milestone of one billion i.e. Rs 100 crore in Mutual Fund Assets under Management (AUM).
To celebrate this achievement, a function was organized at JKB FSL headquarters at Jawahar Nagar. J&K Bank’s GM (Subsidiary Management) Syed Rais Maqbool and GM (Cross Selling) Syed Shafat Hussain Rufai were present in function, which was attended by MD JKB FSL Syed Aadil Bashir, Company Secretary Mudassir Ahmad Padder, CFO Ashiq Hussain Sheikh and other officials.
While lauding this significant achievement, Bank’s General Managers advised the JKBFSL team to continue enhancing its product offerings, expanding its reach and to provide innovative solutions in order to meet the evolving needs of its growing clientele. They 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 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 further said that the average return on MF products in last three years has been more than 15% and the investors from J&K and 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.