HSBC Mutual Fund on Monday (January 9) announced the launch of HSBC Multi Cap Fund, which is an open-ended equity scheme investing across large-cap, mid-cap and small-cap stocks. The new fund offer (NFO) of HSBC Multi Cap Fund will open tomorrow (10th January 2023) and close on 24th January 2023.In a statement, the AMC said that the HSBC Multi Cap Fund will aim to provide long-term wealth creation...

NEW DELHI – Shares of L&T Finance Holdings lost 4 per cent in early trade on Friday after foreign lender HSBC said its asset management arm will be acquiring L&T Mutual Fund from L&T Finance Holding for $425 million (about Rs 3,192 crore) in a bid to grow its franchise in the country.L&T Finance Holdings’ share price dropped to a low of Rs 79.25 as against the previous close of Rs 82.60 on the...

HSBC's pre-tax profit more than doubled on-year in the third quarter, the firm said Monday, as chief executive Noel Quinn declared "the lows of recent quarters are behind us".In a statement to the Hong Kong stock exchange the banking giant reported pre-tax profit in July-September had jumped from $2.3 billion to $5.4 billion while profit after tax came in at $4.2 billion, up from $2.2 billion....

As the first major economy to overcome the economic impact of the COVID-19 pandemic, China is experiencing an impressive recovery. In the first quarter of 2021, the country’s gross domestic product grew by a record 18.3 per cent - a development that is all the more impressive considering the more downbeat economic environment in the other parts of the world.Looking to the future, it is important...

HSBC Holdings Plc’s head of technology mergers and acquisitions in Asia Jeremy Choy is joining Chinese home appliances giant Midea Group Co. as its chief financial officer, according to people familiar with the matter.Midea is hiring the Hong Kong-based veteran technology dealmaker as it seeks to diversify from its traditional home appliances business. The Chinese company, which focuses on makin...