Connect with us

Hi, what are you looking for?

News

YES Bank to set up MF business

YES Bank has secured approval from the Reserve Bank of India to set up a mutual fund business. The bank will also set up an asset management company and a trustee company as wholly-owned subsidiaries. The bank is now expected to apply to Sebi for necessary approvals. The AMC will channel the savings of retail and institutional investors in equity and debt capital markets. This will complement the 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 digital experience for their investments and savings solutions. The bank said it 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.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

PR Newswire

Copyright © Glocal Infomart Pvt Ltd. All rights reserved. Usage of content from website is subject to Terms and Conditions.