InvestorQ : Can you tell me about L&T Finance selling its mutual funds business to HSBC?
prachi Patwardhan made post

Can you tell me about L&T Finance selling its mutual funds business to HSBC?

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sara Kunju answered.
5 months ago
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L&T Finance Holdings, the holding company of L&T Investment Management (the holding company of L&T Mutual Fund) will sell its mutual funds business to HSBC AMC for $425 million or approximately Rs.3,200 crore. This part of the continuing consolidation of the mutual fund business in India.

HSBC AMC will now manage all the existing schemes of L&T Mutual Fund. This is part of the strategy of the L&T group to exit its non-core businesses so as to conserve cash and reallocate capital more productively. HSBC AMC has AUM of Rs.11,700 crore and this will give a substantial boost to the AUM of the HSBC AMC group.

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