HSBC Asset Management

About

HSBC Asset Management is a global asset management firm owned by HSBC Bank Group.

While it has been present in India for a long time, it had not really succeeded in generating performance or gathering assets under management.

In December 2021, it announced the acquisition of L&T Investment Management for $425 million.

https://www.business-standard.com/article/companies/hsbc-amc-acquires-l-t-mutual-fund-for-around-rs-3-200-crore-121122301329_1.html

It is understood that the L&T management team, especially the CEO, will lead the merged entity. So it’s best to refer to the dossier on L&T.

Key staff

Ravi Menon, CEO – joined the organization in 1998 and work as the head of strategy and planning for HSBC India. Menon was appointed as a director to the board of HSBC Asset Management India, with previous employment from 1994 to 1998 as a Director at Union Bank of Switzerland. completed both an MBA at the Symbiosis Institute of Business Management in Pune and a bachelor’s degree at the Birla Institute of Technology and Science in Pilani.
Tushar Pradhan Chief Investment Officer – Joined in 2009; previously employed at HDFC AMC as a Senior Fund Manager from 2000–2006 and American International Group as CIO from 2006–2009. completed education in B Com, Accountancy at the R. A. Podar College of Commerce & Economics and an MBA in Finance at the University of Hartford between 1990 and 1992.

Investment philosophy

HSBC India evaluates potential investment risk as much as investment return to stay true to your objectives and constraints. HSBC India focuses on valuation, long-term risk-adjusted returns, and fundamental research across all asset classes and strategies. To ensure significant resources to HSBC India teams of investment experts with sophisticated decision-making, analytics, and risk management tools.

Media  

HSBC Asset Management to acquire L&T Mutual Fund for Rs 3,200 crore

 HSBC Asset Management (India), a wholly-owned subsidiary of HSBC Holdings, on Friday said it has entered into an agreement with L&T Finance Holdings Limited (LTFH) to fully acquire L&T Investment Management Limited (LTIM) for $425 million or Rs 3,193 crore. This transaction enhances the strength of our business in India and reinforces our status as one of Asia’s leading wealth managers.

Read more at:

https://economictimes.indiatimes.com/markets/stocks/news/hsbc-asset-management-to-acquire-lt-mutual-fund-for-rs-3200-crore/articleshow/88458306.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

HSBC Holdings India operations H1 profit up 22%

Shashank Didmishe  London-based lender HSBC Holdings Plc on Monday reported an increase of $800 million in its profit after tax to $9.2 billion in the six months ended June 30, which includes, a $1.8 billion gain on the recognition of a deferred tax asset from historical losses.

https://www.financialexpress.com/industry/banking-finance/hsbc-holdings-india-operations-h1-profit-up-22/2613975/

Prepared by – Jigyasu Bhan Singh Aug 2022

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