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HSBC Securities and Capital Markets (India) Private Limited (HSCI), the sponsor of HSBC Mutual Fund, along with HSBC Asset Management (India) Private Limited (HSBC AMC) and the Board of Trustees of HSBC Mutual Fund (HSBC Trustees), have entered into a transfer agreement with L&T Investment Management Limited (L&T AMC), L&T Mutual Fund Trustee Limited, and L&T Finance Holdings Limited (L&T Sponsor), which includes the change of sponsorship, trusteeship, management, and administration of L&T Mutual Fund Schemes. 

As per the agreement, HSCI will become the sponsor, HSBC Trustees will become the trustee, and HSBC AMC reserves the rights to manage, operate and administer the L&T MF Schemes as part of the HSBC Mutual Fund. 

The agreement also involves the merger or consolidation of selected L&T MF Schemes with selected HSBC Mutual Fund Schemes, along with the acquisition of the entire share capital of L&T AMC by HSBC AMC and its nominees. The Securities and Exchange Board of India has granted their no-objection to this proposed transaction.

Merger of HSBC Mutual Fund and L&T Mutual Fund Scheme

CategoryTransferor SchemeTransferee SchemeNew Name / Surviving Scheme
Large CapL&T India Large Cap FundHSBC Large Cap Equity FundHSBC Large Cap Fund
Mid CapHSBC Midcap FundL&T Midcap FundHSBC Midcap Fund
Small CapHSBC Small Cap Equity FundL&T Emerging Businesses FundHSBC Small Cap Fund
Flexi CapL&T Flexicap FundHSBC Flexi Cap FundHSBC Flexi Cap Fund
Large & Mid CapL&T Large & Mid Cap FundHSBC Large & Mid Cap Equity FundHSBC Large & Mid Cap Fund
FocusedL&T Focused Equity FundHSBC Focused Equity FundHSBC Focused Fund
ThematicHSBC Infrastructure Equity FundL&T Infrastructure FundHSBC Infrastructure Fund
Aggressive HybridHSBC Equity Hybrid FundL&T Hybrid Equity FundHSBC Aggressive Hybrid Fund
Conservative HybridL&T Conservative Hybrid FundHSBC Regular Savings FundHSBC Conservative Hybrid Fund
OvernightL&T Overnight FundHSBC Overnight FundHSBC Overnight Fund
LiquidL&T Liquid FundHSBC Cash FundHSBC Liquid Fund
Ultra Short DurationL&T Ultra Short-Term FundHSBC Ultra Short Duration FundHSBC Ultra Short Duration Fund
Low DurationHSBC Low Duration FundL&T Low Duration FundHSBC Low Duration Fund
Short TermHSBC Short Duration FundL&T Short-Term Bond FundHSBC Short Duration Fund
Dynamic BondHSBC Corporate Bond Fund & HSBC Flexi Debt FundL&T Flexi Bond FundHSBC Dynamic Bond Fund

Change in Fundamental Attribute of HSBC Mutual Fund Scheme

CategoryExisting NameNew Name / Surviving Scheme
Medium to Long DurationHSBC Debt FundHSBC Medium to Long Duration Fund

Change in Fundamental Attribute of L&T Mutual Fund Schemes (to be part of HSBC Mutual Fund) effective from 25 November 2022

CategoryExisting NameNew Name
Equity Linked Savings SchemeL&T Tax Advantage FundHSBC ELSS Fund
ValueL&T India Value FundHSBC Value Fund
ThematicL&T Business Cycles FundHSBC Business Cycles Fund
Balanced Advantage FundL&T Balanced Advantage FundHSBC Balanced Advantage Fund
Equity SavingsL&T Equity Savings FundHSBC Equity Savings Fund
ArbitrageL&T Arbitrage Opportunities FundHSBC Arbitrage Fund
Money MarketL&T Money Market FundHSBC Money Market Fund
Corporate BondL&T Triple Ace Bond FundHSBC Corporate Bond Fund
Banking & PSU DebtL&T Banking and PSU Debt FundHSBC Banking and PSU Debt Fund
Medium DurationL&T Resurgent India Bond FundHSBC Medium Duration Fund
Gilt FundL&T Gilt FundHSBC Gilt Fund
Credit RiskL&T Credit Risk FundHSBC Credit Risk Fund

Change of Name of L&T Mutual Fund schemes (to be part of HSBC Mutual Fund) effective from 25 November 2022

CategoryExisting NameProposed New Name
IndexL&T Nifty 50 Index FundHSBC Nifty 50 Index Fund
IndexL&T Nifty Next 50 Index FundHSBC Nifty Next 50 Index Fund

Discontinuation of Subscription in HSBC Mutual Fund Scheme

CategoryExisting NameRemarks
Equity Linked Savings SchemeHSBC Tax Saver Equity FundFresh subscriptions are to be stopped from the Effective Date from the close of business hours on 25 November 2022.

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Article Content
  1. Merger of HSBC Mutual Fund and L&T Mutual Fund Scheme
  2. Change in Fundamental Attribute of HSBC Mutual Fund Scheme
  3. Change in Fundamental Attribute of L&T Mutual Fund Schemes (to be part of HSBC Mutual Fund) effective from 25 November 2022
  4. Change of Name of L&T Mutual Fund schemes (to be part of HSBC Mutual Fund) effective from 25 November 2022
  5. Discontinuation of Subscription in HSBC Mutual Fund Scheme