Yes Bank 04 July 2018 said it has received approval from capital markets regulator SEBI to start mutual fund business. This approval is subsequent to the Reserve Bank of India’s (RBI) approval granted to Yes Bank to sponsor a mutual fund followed by SEBI’s in-principle approval received subsequently.
Yes Asset Management (India) Limited (YAMIL) will leverage YES BANK’s Knowledge Banking expertise and relationship capital across retail, corporate and institutional investors to effectively channelize their assets in equity and debt capital markets.
This strategic initiative will further complement Yes Bank’s retail liabilities and wealth management strategy, and also allow YAMIL to build on the bank’s distribution network to provide customers a seamless investment and banking experience, Kapoor said.
It has recruited a team to establish the operations under the guidance of the Board of Directors and trustees. Yes Asset Management will launch fund offerings across the spectrum of both debt and equity markets over the next 6-12 months.