L&T Mutual Fund

L&T Mutual Fund is a mutual fund company in India. It caters to the investment needs of investors through various mutual fund schemes. The company claims to have sound investment management practices and a knowledgeable fund management team.[2]

L&T Mutual Fund
IndustryMutual fund
Founded2010
FateAcquired by HSBC Holdings
SuccessorHSBC Mutual Fund
HeadquartersMumbai, Maharashtra, India
AUMINR 70944.93 Crores
(Avg. AUM as on March 2019)
Total assets₹89,000 crore (US$11 billion) (2010)[1]
ParentL&T Finance Holdings Limited
Websitewww.lntmf.com

The Asset Management Company (AMC) for all L&T Mutual Fund schemes is L&T Investment Management Limited. The sponsor for the AMC is L&T Finance Holdings Limited (LTFH) which is a listed company and registered with RBI as an NBFC.

L&T Mutual Fund is now HSBC Mutual Fund.

Business

With an average AUM of INR 72,322.38 crores and over 2.2 million active folios, L&T Mutual Fund was the 14th largest mutual fund management company in India, as on September 30, 2022.

The major competitors for L&T Mutual Fund are Kotak Mutual Fund, Franklin Templeton Mutual Fund, UTI Mutual Fund, Sundaram Mutual Fund, IDFC Mutual Fund, Tata Mutual Fund and Invesco Mutual Fund.

Fate

L&T Finance Holdings, the parent company intended to focus more on its primary business of lending, therefore, it exited the fund management business. It was acquired by HSBC Holdings through its wholly owned subsidiary HSBC Asset Management (India) Pvt. Ltd.[3][4]

See also

References
  1. "Q&A: Sanjay Sinha, CEO, L&T Mutual Fund". business-standard.com. 7 September 2010. Retrieved 22 August 2011.
  2. "We are positive on IT & Infrastructure". The Hindu. 12 October 2010. Retrieved 15 October 2010.
  3. "Acquisition of L&T Mutual Fund". www.assetmanagement.hsbc.co.in. Retrieved 11 February 2023.
  4. "HSBC AMC Acquires L&T Mutual Fund: How does it Impact Investors?". www.personalfn.com. Retrieved 11 February 2023.
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