InvestorQ : Why is Yes Bank selling out of its mutual fund business and who is the buyer?
Dhwani Mehta made post

Why is Yes Bank selling out of its mutual fund business and who is the buyer?

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Dawn Cherian answered.
4 months ago
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As part of its restructuring of the bank activity and hiving off non-core businesses, Yes Bank has decided to exit the mutual funds business. The MF business will be acquired by White Oak, promoted by former Goldman Sachs fund manager, Prashant Khemka.

Under the deal, 100% of the equity of Yes AMC and Yes Trustee will be sold to GPL Finance, which is owned by White Oak. Prashant Khemka owns 99.99% in White Oak. The Yes Bank AMC business had an AUM of Rs.50 crore and revenues of Rs.33 lakhs.

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