Board of L&T Finance Holdings approves sale of mutual fund biz in HSBC AMC
At meeting held on 23 December 2021
The Board of L&T Finance Holdings at its meeting held on 23 December 2021 has considered and approved the sale of 100% of the paid-up share capital of L&T Investment Management (LTIML), a wholly owned subsidiary of the Company and the asset manager of L&T Mutual Fund, to HSBC Asset Management (India) (HSBC AMC).Simultaneously with the sale, the schemes managed by LTIML will be managed by HSBC AMC, the board of trustees of HSBC Mutual Fund will be appointed as the trustee of the schemes of L&T Mutual Fund and certain schemes of L&T Mutual Fund will be merged and consolidated with HSBC schemes in accordance with the SEBI (Mutual Funds), Regulations, 1996.
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