L&T Finance completes acquisition of Fidelity’s MF business

27 Nov 2012

Larsen & Toubro’s business arm L&T Finance, has completed the acquisition of Fidelity’s mutual fund (MF) business in India for an undisclosed amount. After this transaction, the all new L&T Mutual Fund has over Rs 12,800 crore in managed assets and an investor base of close to 9.5 lakh investors from more than 200 cities and towns.

Through this acquisition, the company’s fund suite spans the whole range of investment opportunities - equity, fixed income, hybrid, domestic and international funds - and moves closer to becoming one of the country’s leading and admired asset management companies.

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