Yes Asset Management forays into MF business; gets Sebi nod to launch schemes
Yes Asset Management (India) is the latest Indian company to enter the mutual fund segment.
Private sector lender Yes Bank Tuesday said its wholly-owned subsidiary Yes Asset Management has received markets regulator Sebi's approval to launch two mutual fund schemes.
Yes Asset Management (India) is the latest Indian company to enter the mutual fund segment.
At present, there are over 40 mutual fund houses operating in the country.
The asset management company will launch two schemes -- Yes Liquid Fund and Yes Ultra Short Term Fund, the bank said in a statement.
This approval is subsequent to Reserve Bank of India's approval granted to Yes Bank to sponsor a mutual fund followed by Sebi's in-principle approval received subsequently.
Watch Zee Business Tweet video here:
#RBIPolicy | रिजर्व बैंक की क्रेडिट पॉलिसी पर बैठक शुरू, क्या बढ़ेंगी दरें? देखिए #CreditPolicy पर #ZeeBusiness का महापोल।@poojat_0211 @AnilSinghviZEE @deepaliranaa @SwatiKJain @iamrakeshbansal @kunalsaraogi @SumitResearch @davemansi145 @sandeepgrover09 pic.twitter.com/44Et8orKbO
— Zee Business (@ZeeBusiness) December 4, 2018
Yes Asset Management, in July, received the approval from Securities and Exchange Board of India (Sebi) to commence mutual fund business.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Power of Compounding: How many years will it take to reach Rs 3 crore corpus if your monthly SIP is Rs 4,000, Rs 5,000, or Rs 6,000
Power of Compounding: Salary Rs 25,000 per month; is it possible to create over Rs 2.60 crore corpus; understand it through calculations
Reduce Home Loan EMI vs Reduce Tenure: Rs 75 lakh, 25-year loan; which option can save Rs 25 lakh and 64 months and how? Know here
Top 7 Large and Mid Cap Mutual Funds with Best SIP Returns in 5 Years: No. 1 fund has turned Rs 15,000 monthly SIP investment into Rs 20,54,384; know about others
New Year Pick by Anil Singhvi: This smallcap stock can offer up to 75% return in long term - Check targets
PSU Oil Stocks: Here's what brokerage suggests on these 2 largecap, 1 midcap scrips - Buy, Sell or Hold?
04:00 PM IST