fund

YES Asset Management launches overnight fund


YES Asset Management Limited on Tuesday launched its third new fund offer – YES Overnight Fund. The NFO has opened for subscription on August 19 and will close on August 23. The new fund will be managed by Piyush Baranwal.

The new scheme is an open-ended debt scheme investing in overnight securities having a maturity of one business day.

According to a press release sent by the fund house, since the residual maturity of the underlying instrument is up to one business day, there is minimal default and interest rate risk to the capital invested.

“YES Overnight Fund will seek to maintain a high credit quality portfolio by analyzing the fundamental credit strength and secondary market liquidity of the issuer, using in-house credit and liquidity models. It is an ideal fund for both institutional and retail investors who are looking to invest surplus money for short term and earn reasonable returns,” says Kanwar Vivek, CEO, YES Asset Management.





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