L&T Mutual Fund & HSBC Mutual Fund are merging3 min read
Under this merger, some schemes of both AMCs will be merged whilst some schemes will undergo a change in name.
The date of this merger is 25th November, 2022.
Please refer to BSE circular links for notices issued by L&T AMC here and HSBC here for further details of the merger.
Below is the list of funds being merged from both the AMCs:
| Sr. No. | L&T MF Scheme or HSBC MF Scheme proposed to be merged (“Transferor Scheme”) | HSBC MF Scheme or L&T MF Scheme with which Transferor Scheme is proposed to be merged (“Transferee Scheme”) | Proposed New Name of the Transferee Scheme (“Surviving Scheme”) |
| 1 | L&T India Large Cap Fund | HSBC Large Cap Equity Fund | HSBC Large Cap Fund |
| 2 | HSBC Small Cap Equity Fund | L&T Emerging Businesses Fund | HSBC Small Cap Fund |
| 3 | L&T Flexicap Fund | HSBC Flexi Cap Fund | HSBC Flexi Cap Fund |
| 4 | L&T Focused Equity Fund | HSBC Focused Equity Fund | HSBC Focused Fund |
| 5 | HSBC Infrastructure Equity Fund | L&T Infrastructure Fund | HSBC Infrastructure Fund |
| 6 | HSBC Midcap Fund | L&T Midcap Fund | HSBC Midcap Fund |
| 7 | L&T Large and MidCap Fund | HSBC Large & Mid Cap Equity Fund | HSBC Large & Mid Cap Fund |
| 8 | L&T Liquid Fund | HSBC Cash Fund | HSBC Liquid Fund |
| 9 | L&T Overnight Fund | HSBC Overnight Fund | HSBC Overnight Fund |
| 10 | L&T Ultra Short Term Fund | HSBC Ultra Short Duration Fund | HSBC Ultra Short Duration Fund |
| 11 | HSBC Low Duration Fund | L&T Low Duration Fund | HSBC Low Duration Fund |
| 12 | HSBC Corporate Bond Fund & HSBC Flexi Debt Fund | L&T Flexi Bond Fund | HSBC Dynamic Bond Fund |
| 13 | HSBC Short Duration Fund | L&T Short Term Bond Fund | HSBC Short Duration Fund |
| 14 | L&T Conservative Hybrid Fund | HSBC Regular Savings Fund | HSBC Conservative Hybrid Fund |
| 15 | HSBC Equity Hybrid Fund | L&T Hybrid Equity Fund | HSBC Aggressive Hybrid Fund |
Note:
- We will be pausing the investment on ‘Transferor scheme’ after market hours on 21st November 2022.
- We will be deleting the SIP for the ‘Transferor scheme’ after market hours on 21st November 2022. You can create a new SIP in the Transferee scheme’ after the merger date.
- Date of this merger is 25th November, 2022.
Schemes with Change in Names along with changes in fundamental attributes
L&T MF Schemes where name change is proposed along with changes in fundamental attributes
| Sr. No. | Existing L&T MF Scheme | Proposed new name of the scheme |
| 1 | L&T Resurgent India Bond Fund | HSBC Medium Duration Fund |
| 2 | L&T Banking and PSU Debt Fund | HSBC Banking and PSU Debt Fund |
| 3 | L&T Gilt Fund | HSBC Gilt Fund |
| 4 | L&T Money Market Fund | HSBC Money Market Fund |
| 5 | L&T Arbitrage Opportunities Fund | HSBC Arbitrage Fund |
| 6 | L&T Equity Savings Fund | HSBC Equity Savings Fund |
| 7 | L&T India Value Fund | HSBC Value Fund |
| 8 | L&T Business Cycles Fund | HSBC Business Cycles Fund |
| 9 | L&T Triple Ace Bond Fund | HSBC Corporate Bond Fund |
| 10 | L&T Tax Advantage Fund | HSBC ELSS Fund |
| 11 | L&T Balanced Advantage Fund | HSBC Balanced Advantage Fund |
| 12 | L&T Credit Risk Fund | HSBC Credit Risk Fund |
Schemes with Change in Names along with no changes in fundamental attributes
L&T MF Schemes where name change is proposed along with no changes in fundamental attributes:
| Sr. No. | Existing L&T MF Scheme | Proposed new name of the scheme |
| 1 | L&T Nifty 50 Index Fund | HSBC Nifty 50 Index Fund |
| 2 | L&T Nifty Next 50 Index Fund | HSBC Nifty Next 50 Index Fund |
What Does The Merger Mean For Investors?
- No action needs to be taken by investors if they agree to the proposed change.
- If investors do not wish to consent to the above-mentioned changes, you are entitled to exit the investment without any exit load till 3:00 pm, 21st November 2022.
