Yes Mutual Fund's name changed to White Oak Capital, tweets CEO
In September 2021, White Oak’s subsidiary, GPL Finance (the sponsor firm), got the regulatory nod to acquire YES Mutual Fund.
January 13, 2022 / 10:08 AM IST
In a tweet, on January 13, Aashish P Sommaiyaa, the Chief Executive Officer of White Oak Capital, the latest entrant to the mutual fund space, informed that the name of YES Asset Management stands changed to WhiteOak Capital Asset Management. The change is effective from January 12, 2022. Sommaiyaa also said that YES Mutual Fund will now be called WhiteOak Capital Mutual Fund.
CEO Aashish Sommaiyaa, the new fund house’ head is the former chief executive of Motilal Oswal mutual fund. Founded by Prashant Khemka, former CIO of Goldman Sachs Asset Management’s India Equity and Global Emerging Markets Equity businesses, White Oak Capital group provides investment management and advisory services for equity assets of over Rs 42,000 crore.
In August 2020, a definitive agreement was executed for the sale of 100 per cent of the equity shareholding of Yes Asset Management (India) Ltd and Yes Trustee Ltd, both wholly-owned subsidiaries of Yes Bank to GPL Finance.
Also Read: White Oak Capital Group completes acquisition of Yes Asset Management
Later in September, White Oak’s subsidiary, GPL Finance (the sponsor firm), got the regulatory nod to acquire YES Mutual Fund. In short, White Oak got the license to run a mutual fund.