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HSBC gets SEBI approval to acquire LTI Investment Management

LTI Investment Management

HSBC to acquire LTI Investment Management

The Securities and Exchange Board of India (SEBI) has given the go-ahead for HSBC Asset Management, an indirect wholly-owned subsidiary of HSBC Holdings, to fully acquire LTI Investment Management Limited (LTIM), a wholly-owned subsidiary of L&T Finance Holdings Limited (LTFH), and the investment manager of the L&T Mutual Fund. According to the corporation, the clearance is subject to a few requirements and additional approvals.

After the transaction is complete, the LTI Mutual Fund’s mutual fund programmes will either be moved to the HSBC Mutual Fund or combined with specific HSBC mutual fund programmes. In a statement, HSBC said that “the sponsorship, trusteeship, management, and administration of the L&T Mutual Fund shall be adjusted accordingly.”

LTI Investment Management

Following the purchase, HSBC will combine LTIM’s operations with those of its current asset management division in India, which had an AAUM of $1.66 billion as of September.

According to the Association of Mutual Funds in India, LTI Investment Management is the fourteenth-largest mutual fund management business in the nation with an average of $8.79 billion in assets under management and more than 2.2 million active folios as of September (AMFI).

Through segregated accounts and pooled funds, HSBC Asset Management makes investments on behalf of the bank’s global clientele, which includes intermediaries, corporations, institutions, and retail and private clients. As of June 30, it was managing $595 billion in assets for its customers.