Yes Mutual Fund rechristened as White Oak Capital Mutual Fund

Yes Asset Management's name has been changed to White Oak Capital Asset Management with effect from January 12.

Further, Yes Mutual Fund will now be called White Oak Capital Mutual Fund, Aashish P Sommaiyaa, Chief Executive Officer of White Oak Capital, announced in a tweet on Thursday.

He, further, said: "WhiteOakCap has filed equity MF offer documents for regulatory approval".

Founded by Prashant Khemka, formerly 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 November, White Oak Capital group announced the completion of the transaction to acquire the mutual fund business of Yes Bank.

GPL Finance and Investments, a subsidiary of White Oak Capital group, had received capital markets regulator Sebi's approval to acquire Yes Asset Management from Yes Bank in September.

In August 2020, the private lender had executed a definitive agreement 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.