White Oak Capital group, which had acquired YES Mutual Fund through its subsidiary GPL Finance in August 2020, has now got the go-ahead from SEBI to run the mutual fund (MF) business.
YES Bank, which was earlier the sponsor for YES MF, had exited the MF business as part of its plans to get out of non-core business. Aashish Somaiyaa, who will be heading the fund house, had said that the MF’s focus will initially be on actively-managed funds.
“Also, White Oak’s investment team has several professionals, with considerable experience managing international equity assets. So over time, we may also want to take advantage of this expertise in the team and look at some emerging market products,” Somaiyaa had said.
Prashant Khemka, the founder of White Oak Capital Management, was chief investment officer and lead portfolio manager of GS India equity and global emerging markets, at Goldman Sachs AMC.
