Yes Bank will soon launch its mutual fund business under the name of Yes Mutual Fund. In fact, the fund house has filed draft offer documents with SEBI to launch its ultra short term fund and liquid fund.
The fund house has hired Piyush Baranwal as its debt fund manager. Baranwal was earlier associated with BOI Axa Mutual Fund, Morgan Stanley and Principal Mutual Fund.
CAMS is the registrar and transfer agent for the company.
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 a company statement which was issued a few months back.
Yes Bank manages AUM of Rs.1730 crore from its MF distribution business.
The fund house received SEBI’s in-principle approval to float an asset management business this year.
