L&T Mutual Fund on WebNotes

L&T Mutual Fund (historical)

Tue, 19 May 2026 00:00:00 +0000

L&T Mutual Fund was an Indian asset management company that ceased to exist as a standalone fund house on 25 November 2022, when HSBC Asset Management (India) Private Limited completed its acquisition of L&T Investment Management Limited from L&T Finance Holdings Limited for USD 425 million. Its schemes now run under HSBC Mutual Fund , and investors who held L&T scheme units hold HSBC Mutual Fund units today.

The L&T Mutual Fund brand had a short corporate life of about twelve years, from 2010 to 2022, but the underlying AMC was older. The management company traces to DBS Cholamandalam Asset Management, which had operated since 1996. L&T Finance acquired that business in January 2010, renamed it L&T Investment Management, expanded it through the 2012 purchase of Fidelity’s India fund operation, and grew it into a top-15 fund house before selling it to HSBC in 2022.

HSBC acquisition of L&T Mutual Fund (2022)

Tue, 12 May 2026 00:00:00 +0000

The HSBC Asset Management India acquisition of L&T Investment Management Limited in May 2022 consolidated two mid-sized mutual fund franchises into a combined entity with approximately Rs 82,000 crore of assets under management, making HSBC Mutual Fund one of the top-ten AMCs in India by AUM. The transaction involved HSBC Asset Management (India) Private Limited acquiring L&T Investment Management from L&T Finance Holdings Limited, the listed NBFC arm of the Larsen and Toubro engineering and infrastructure conglomerate, for an enterprise value of approximately Rs 3,188 crore.

HSBC Mutual Fund

Tue, 12 May 2026 00:00:00 +0000

HSBC Mutual Fund is the Indian mutual fund operations of the HSBC Group, formally managed through HSBC Asset Management (India) Private Limited, a subsidiary of HSBC Securities and Capital Markets (India) Private Limited. The fund house was established in 2001 and entered a new phase in 2023 when it completed the acquisition of L&T Investment Management Limited (formerly L&T Mutual Fund ), substantially expanding its AUM and scheme count. As of March 2024, HSBC Mutual Fund managed assets exceeding Rs 1 lakh crore, positioning it in the mid-size bracket of the Indian AMC industry.