First things first: Acquisition by HSBC HSBC has taken over the mutual fund business of L&T. As a part of the acquisition, L&T India Value Fund saw its name changed to HSBC Value Fund on November 25, 2022. Venugopal Manghat has been managing L&T India Value Fund for the last ten years, and it seems he will continue to manage it post the merger. However, we are awaiting a formal announcement. Rationale for the change in recommendation Fund's underperformance: The fund has underperformed its peers in three of the last five years. As a result, its long-term returns trail significantly behind the category average, which has only increased over the past one-and-a-half years. Moreover, ev
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