It is common in India to acquire trending organisation’s businesses by another firm with a view to expand their business nationwide. Many deals have been done at an “attractive prices” in the past and now it’s the turn of HSBC Asset Management Company.
HSBC amc has AUM(Assets Under Management)of over 11,700 crores and with an view to expand further it has signed a deal to acquire L&T Mutual Fund @3,192 Crores(425 Million Dollars).
L&T Mutual Fund has 100% holdings of L&T Investment Mangement(LTIM)which is a subsidiary of L&T Finance Holdings(LTFH). With this deal all the L&T holdings are going to be a part of HSBC Mutual Fund from hereon
With this deal HSBC amc is going to be India’s 12th largest Fundhouse with 1Lakh Crore AUM(Both HSBC and L&T).
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