‘We assure there will be no change to our combined high-performing funds’
- L&T MF is a great fit in terms of where we are, the kind of strengths that we have, and what they bring to the table. They have a large customer base of 2.4 million and close to 29 open-ended schemes, of which we have about 17 funds in common. So, there are almost 12 new funds that we will get
HSBC Holdings Plc’s Indian asset management unit recently announced plans to acquire the mutual fund business of L&T Finance Holdings Ltd for about ₹3,191 crore. According to the British lender, the transaction will boost its business in India, where the mutual fund industry has witnessed a doubling of assets under management (AUM) to ₹37.34 trillion as of 30 November 2021 from ₹16.50 trillion as of 30 November 2016.
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