L&T Investment Management Limited (“L&T AMC”), L&T Mutual Fund Trustee Limited and
L&T Finance Holdings Limited (“L&T Sponsor”), the existing asset management company, trustee
company and sponsor of L&T Mutual Fund respectively, have entered into a transfer agreement
dated December 23, 2021 (the “Agreement”), with HSBC Securities and Capital Markets (India)
Private Limited (“HSBC Sponsor”), HSBC Asset Management (India) Private Limited (“HSBC AMC”)
and Board of trustees (“HSBC Trustees”), the existing sponsor, asset management
company and trustees respectively of the HSBC Mutual Fund for sale of 100% paid up share
capital of L&T AMC to HSBC AMC.
Consequently, subject to receipt of all requisite regulatory approvals, including approval or no- objection to be granted by Securities and Exchange Board of India (SEBI), from the effective date (to be notified after receipt of the requisite regulatory approvals) all the L&T MF Schemes shall be managed, operated and administered by HSBC AMC, HSBC Sponsor will become the sponsor of the L&T MF Schemes and HSBC Trustees will become the trustee of the L&T MF Schemes, and certain schemes of L&T Mutual Fund will be merged and consolidated with HSBC schemes in accordance with SEBI (Mutual Fund) Regulations 1996.
Until the effective date, the two entities will continue to operate independently.
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