Market regulator SEBI has given in-principle approval to YES Bank to set up its AMC, says a press release issued by YES Bank today.
The company said that it has identified senior leadership and technology architecture to commence operations within 12 months.
Similar to other bank sponsored AMCs, YES Bank will leverage its banking network to distribute its funds. “The AMC will channelize the savings of retail, corporate and institutional investors in equity and debt capital markets by leveraging YES Bank’s expertise. 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 experience for their investments & savings solutions,” says the release.
In October 2015, Reserve Bank of India (RBI) had given approval to YES Bank to sponsor an AMC.
