Yubi Launches Asset-Management Business With SEBI-Registered PoleStar Portfolio Management Service

Yubi Group has entered the asset-management business with the launch of Yubi Asset Management and its first offering, Yubi PoleStar, a SEBI-registered portfolio management service aimed at family offices, high-net-worth individuals and institutional investors.

The new business was unveiled at:

Global Fintech Fest 2026 in Mumbai

on September 9, marking an expansion for Yubi from providing credit infrastructure, underwriting, origination and distribution capabilities into directly managing investment portfolios.

Yubi Asset Management Private Limited is registered with the Securities and Exchange Board of India as a:

Portfolio Manager.

Its registration number is:

INP000010201.

PoleStar will use Yubi's existing credit-market infrastructure and underwriting capabilities to offer fixed-income and multi-asset investment strategies across different risk profiles and investment horizons.

The launch gives Yubi a new position within India's growing private wealth and institutional asset-management market while extending capabilities developed across lending, securitisation and debt capital markets into portfolio management.

Yubi Asset Management Becomes Group's New Investment Business

Yubi Asset Management represents a strategic extension of the group's financial-services platform.

Yubi has historically focused on infrastructure connecting:

banks,

NBFCs,

enterprises,

borrowers,

and institutional investors.

The group has built businesses spanning lending, underwriting, collections, supply-chain finance, securitisation, bond markets and wealth technology.

With Yubi Asset Management, the company is moving further into the investment value chain by managing portfolios for clients.

PoleStar Is Yubi Asset Management's First Offering

The first product under the new business is:

Yubi PoleStar.

PoleStar is structured as a portfolio management service rather than a mutual fund.

This distinction is important.

A PMS manages portfolios for individual clients under an investment mandate, while mutual funds pool money from multiple investors into common schemes.

Under a PMS structure, client portfolios can be more customised depending on:

risk appetite,

liquidity requirements,

investment horizon,

and return objectives.

PoleStar Targets Family Offices and Institutional Investors

Yubi is positioning PoleStar primarily toward sophisticated investors.

Its target client groups include:

family offices,

institutional allocators,

high-net-worth individuals,

corporates,

and accredited investors.

Different strategies are intended to serve investors seeking outcomes ranging from stable income and liquidity management to longer-term wealth creation and bespoke multi-asset portfolios.

The positioning reflects increasing demand for professionally managed alternatives beyond conventional retail investment products.

Minimum Investment Is ₹50 Lakh

As a portfolio management service, PoleStar carries a minimum investment requirement of:

₹50 lakh

or such other amount as may be prescribed under applicable regulations.

That places the product firmly within India's private wealth market rather than the mass-retail investment segment.

Accredited investors may be eligible for certain regulatory relaxations where permitted under the applicable framework.

Credit Underwriting Is Central to PoleStar

Yubi is attempting to differentiate the new business through its experience in:

credit underwriting.

Instead of approaching fixed-income portfolio construction primarily as a securities-allocation exercise, PoleStar is designed around analysis of the underlying borrower and credit structure.

The company says this approach draws on the same infrastructure used across Yubi's existing credit businesses.

That includes analysing:

borrower quality,

financial strength,

industry conditions,

management risk,

collateral,

covenants,

and repayment structures.

PoleStar Uses a Six-Gate Credit Architecture

Yubi describes PoleStar's investment process as a:

six-gate credit architecture.

The framework covers:

data ingestion and forensic analysis,

principal-level engagement,

risk modelling,

investment committee approval,

structural and covenant design,

and active surveillance.

The process is designed to operate both before an investment is made and throughout the holding period.

The objective is to make credit monitoring continuous rather than treating underwriting as a one-time activity.

Weighted Risk Framework Evaluates Each Credit

PoleStar also uses a weighted framework to evaluate different dimensions of risk.

These include:

industry risk,

business risk,

financial risk,

and management risk.

Credit investing requires a different analytical emphasis from equity investing.

An equity investor generally seeks substantial upside from business growth.

A credit investor's central concern is whether principal and interest will be repaid according to agreed terms.

That makes downside protection, cash-flow visibility and structural safeguards particularly important.

Governance Includes Quarterly Investment Policy Committee

Yubi Asset Management has also outlined a governance framework for PoleStar.

Portfolios will be overseen through a:

quarterly Investment Policy Committee.

The structure also includes:

independent third-party valuation

and:

segregated custody.

Assets are held in each client's own name, consistent with the PMS structure.

These mechanisms are intended to give investors clearer visibility into portfolio holdings and valuation.

Anshul Baranwal Leads Investment Function

Yubi Asset Management is led on the investment side by:

Anshul Baranwal, Chief Investment Officer.

Baranwal brings approximately:

15 years of financial-services experience.

His previous experience includes roles at:

UBS,

ASK Private Wealth,

and ICICI Securities.

He will be responsible for shaping the investment philosophy and portfolio-management framework of the new business.

Irfan Mohammed Joins Leadership Team

The business also includes:

Irfan Mohammed

as Director.

Mohammed simultaneously serves as Managing Director of:

Aspero,

another Yubi Group company.

His previous experience includes senior positions at:

Vivriti Capital

and:

Northern Arc.

The leadership structure therefore combines private wealth expertise with experience across India's institutional credit ecosystem.

Yubi Wants a Credit-Native Approach to Asset Management

Yubi's core proposition is that debt investing should be built from:

credit fundamentals outward.

The company argues that many investment approaches have historically adapted frameworks more closely associated with equity investing.

PoleStar instead begins with underwriting.

That means the starting point is understanding:

who is borrowing,

why the capital is required,

how repayment will occur,

what protections exist,

and what could cause the investment thesis to fail.

Existing Credit Infrastructure Gives Yubi a Starting Advantage

Yubi enters asset management with an existing credit-data and origination ecosystem.

According to company data, the group has facilitated more than:

$36 billion in total credit

across its businesses.

It evaluates more than:

800,000 loans each month

through proprietary risk-assessment models.

This gives the new asset-management business access to an infrastructure base that would take a standalone investment manager significant time to build.

However, that infrastructure should not be confused with an investment track record for PoleStar itself.

Yubi Has Led 850 Primary Debt Issuances

The group has been active in India's primary debt market every year since:

2020.

According to Yubi, it has led approximately:

850 primary NCD and market-linked debenture issuances.

Those transactions have mobilised more than:

₹40,000 crore

in capital.

The group has also financed more than:

200 distinct issuers

across the credit spectrum.

96% of Issuances Were Collateral-Backed

Yubi says approximately:

96% of its issuances

have used collateral-backed structures.

The group has operated across more than:

25 lending and asset-class segments.

These statistics provide context for the underwriting and structuring capabilities Yubi intends to bring into PoleStar.

They do not, however, represent the performance history or assets under management of the newly launched PMS.

PoleStar Has No Legacy PMS Track Record

That distinction is particularly important for investors.

Yubi PoleStar is a:

newly registered PMS offering.

Historical statistics from Yubi's lending, origination and distribution businesses cannot be treated as:

PoleStar investment returns,

PMS assets under management,

or a record of portfolio performance.

Investors evaluating the product will therefore need to distinguish the group's institutional credit experience from the actual future performance of the new asset-management business.

Entry Comes as Private Wealth Market Expands

Yubi's move into asset management comes as India's private wealth industry expands rapidly.

Growth in:

entrepreneurial wealth,

startup liquidity,

listed-market wealth creation,

professional incomes,

and family businesses

is creating a larger pool of investors seeking more sophisticated portfolio solutions.

This has encouraged banks, wealth managers, alternative investment funds and independent asset managers to expand offerings for affluent clients.

Family Offices Need More Than Traditional Asset Allocation

Family offices typically manage wealth across multiple asset classes.

Their requirements can include:

capital preservation,

income generation,

liquidity management,

tax-aware allocation,

private-market exposure,

and long-duration wealth creation.

These investors can therefore require more customised strategies than conventional retail investment products provide.

PoleStar's bespoke portfolio approach is designed to compete for this segment.

Private Credit Has Become Increasingly Important

Private credit has also emerged as a larger component of India's financing ecosystem.

Companies increasingly seek capital beyond conventional:

bank loans

and:

public bond markets.

At the same time, sophisticated investors are looking for opportunities to earn income from credit strategies outside traditional fixed deposits and public debt funds.

This creates an opportunity for managers capable of combining origination with disciplined underwriting.

Credit Investing Carries Meaningful Risks

The opportunity comes with significant risks.

PMS investments can be exposed to:

credit risk,

market risk,

liquidity risk,

interest-rate risk,

and potential loss of principal.

Private and structured credit can be particularly sensitive to:

borrower defaults,

weak collateral,

poor covenants,

and limited secondary-market liquidity.

Strong underwriting can help manage these risks but cannot eliminate them.

SEBI Registration Does Not Guarantee Returns

Yubi Asset Management's registration with SEBI provides regulatory oversight of the intermediary.

It does not mean that SEBI:

guarantees investment performance

or:

assures investor returns.

That distinction is explicitly stated in the company's launch disclosures.

Investors remain responsible for understanding the strategy and associated risks before allocating capital.

Technology Could Differentiate Credit Monitoring

One area where Yubi may have an advantage is continuous monitoring.

Traditional credit analysis can rely heavily on periodic:

financial statements,

rating reports,

and borrower updates.

Technology-enabled systems can potentially incorporate larger quantities of information and identify changes in borrower conditions more quickly.

Yubi's existing underwriting infrastructure is designed around this type of continuous assessment.

AI Is Becoming More Important in Credit Assessment

Yubi describes itself as an:

AI-powered credit operating system.

Artificial intelligence can be used in credit markets to support:

data processing,

risk classification,

document analysis,

early-warning systems,

and portfolio monitoring.

The value ultimately depends on the quality of:

data,

models,

human oversight,

and investment governance.

PoleStar gives Yubi an opportunity to apply these capabilities directly to managed investment portfolios.

Asset Management Extends Yubi's Business Model

Strategically, the launch moves Yubi from primarily enabling financial transactions toward participating more directly in the economics of:

investment management.

Infrastructure businesses generally earn revenue from:

transactions,

software,

origination,

distribution,

or servicing.

Asset-management businesses can generate recurring fees linked to:

managed capital.

If Yubi can scale PoleStar, the new division could therefore diversify the group's revenue model.

Existing Investor Network Could Support Distribution

Yubi says its wider ecosystem serves more than:

6,200 investors and lenders

and:

17,000 enterprises.

That network could provide the asset-management business with useful relationships across both sides of the credit market.

Existing corporate and institutional relationships may support:

investment sourcing,

distribution,

and client acquisition.

The challenge will be converting those relationships into durable asset-management mandates.

Yubi Has Facilitated ₹3.2 Lakh Crore in Credit

Across its broader platform, Yubi reports facilitating more than:

₹3.2 lakh crore in credit

and approximately:

3.5 crore transactions.

The company was founded in:

2020

by:

Gaurav Kumar, Founder and CEO.

It has expanded from a credit-market platform into a broader financial-services technology group with businesses covering multiple stages of the lending and investment lifecycle.

Group Includes Multiple Financial-Technology Businesses

Yubi Group's ecosystem includes businesses such as:

YuVerse,

Accumn,

Spocto X,

YuCollect,

and Yubi Wealth.

Together, these operations span areas including:

lending,

underwriting,

collections,

and wealth management.

Yubi Asset Management adds a regulated investment-management layer to that ecosystem.

Gaurav Kumar Sees Asset Management as Natural Extension

Yubi's strategic argument is that years spent connecting banks, NBFCs, enterprises and institutional investors have created infrastructure that can now be applied directly to portfolios.

For the group, the move is therefore less about entering an unrelated financial-services category and more about extending existing:

credit intelligence

and:

market infrastructure

into investment management.

The success of that thesis will ultimately depend on investment outcomes and client retention.

PoleStar Will Need to Establish Independent Credibility

Despite Yubi's existing scale, the new asset-management business will need to establish its own reputation.

Institutional investors and family offices typically evaluate managers based on factors including:

investment philosophy,

team stability,

risk management,

governance,

portfolio transparency,

and long-term performance.

Technology and origination access can support these factors, but neither automatically guarantees attractive risk-adjusted returns.

Competition in Indian Wealth Management Is Intensifying

Yubi is entering a highly competitive market.

India's affluent investors can choose among:

bank-led private wealth platforms,

independent wealth managers,

PMS providers,

alternative investment funds,

mutual funds,

and direct securities.

Managers therefore need clear differentiation.

Yubi is betting that its combination of:

credit infrastructure,

underwriting,

technology,

and structured investment expertise

can provide that differentiation.

Conclusion

Yubi Group's launch of Yubi Asset Management and its first offering, Yubi PoleStar, marks a significant expansion from credit-market infrastructure into regulated portfolio management.

Yubi Asset Management Private Limited is a SEBI-registered Portfolio Manager, while PoleStar is designed for family offices, HNIs, corporates, accredited investors and institutional allocators seeking fixed-income and multi-asset strategies.

The proposition is built around Yubi's six-gate credit architecture, combining data analysis, borrower engagement, risk modelling, investment committee review, structural protections and ongoing surveillance.

Yubi enters the market with substantial credit infrastructure. The group says it has facilitated more than $36 billion in credit, evaluates over 800,000 loans each month, and has led around 850 primary NCD and MLD issuances representing more than ₹40,000 crore in capital mobilisation.

Those numbers provide Yubi Asset Management with a substantial institutional foundation, but they should not be interpreted as PoleStar's investment track record. The PMS is newly launched and will need to establish its own performance history.

As India's private wealth and alternative credit markets expand, PoleStar gives Yubi an opportunity to convert its credit-underwriting capabilities into a direct investment-management business. Its long-term success will depend on whether that infrastructure can translate into consistent risk management, portfolio performance and investor confidence.