HSBC Asset Management has entered into an agreement with L&T Finance to acquire the latter's mutual fund business for USD 425 million (around Rs 3,200 crore). With assets under management (AUM) of close to Rs 78,000 crore, L&T Mutual Fund is currently the 14th largest player in the industry while HSBC Mutual Fund, with AUM of over Rs 12,000 crore, ranks at 23rd place, as per November 2021 disclosures. While we await more details on the merger of the schemes of the two AMCs,
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