YES BANK receives an approval from RBI for setting up of Mutual Fund, Asset Management
MUMBAI, 12th October, 2015: YES BANK, India’s 5th largest private sector Bank, has received an approval from the Reserve Bank of India to sponsor a Mutual Fund and to setup a Asset Management Company (AMC), and a Trustee Company. The AMC and the Trust Companies shall be set up as wholly owned subsidiaries of YES Bank Limited.
YES BANK will now apply to SEBI to seek necessary approvals.
The Asset Management Company (AMC) will channelize the savings of retail and institutional investors in equity and debt capital markets. This will complement YES BANK’s retail liabilities
strategy, and also allow the AMC to leverage the bank’s distribution network for customer acquisition, and provide customers a seamless digical experience for their investments & savings solutions. The Bank will simplify and integrate “manufacturing to distribution” of equity and debt investment products for all its customers.
The AMC will also gain from the Bank’s expertise in investment advisory, wealth management solutions, debt capital markets, its significant and growing customer base & distribution network, and overall execution expertise, to build a large and profitable Fund Management franchise.
In its 12th year of operations, as YES BANK accelerates into its next phase of growth, this new business initiative will provide further acceleration to YES BANK’s differentiated product offerings to its customers.