| L&T Mutual Fund | |
| Fate: | Acquired by HSBC Holdings |
| Successor: | HSBC Mutual Fund |
| Location: | Mumbai, Maharashtra, India |
| Industry: | Mutual fund |
| Parent: | L&T Finance Holdings Limited |
| Assets: | (2010)[1] |
L&T Mutual Fund was an Indian mutual fund company that operated between 2010 and 2023.[2] The asset manager of its mutual fund schemes was L&T Investment Management Ltd, a wholly-owned subsidiary of Larsen & Toubro.[3]
In November 2022, L&T Finance Holdings sold the company to HSBC for 3,484 crore ($425 million). As a result, all mutual fund schemes of the company were merged into HSBC Mutual Fund.[3] In April 2023, L&T Mutual Fund surrendered its mutual fund registration and ceased operations.[4]
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.[5] [6]