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HSBC looks to India for $425m mutual funds play
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HSBC has agreed to buy the Indian mutual funds business of L&T Finance for $425m as part of efforts to build its wealth management business in Asia.
HSBC plans to merge the mutual funds business with its existing asset-management operations in India, which had $1.6bn assets under management as of end-September.
The UK-based lender has also...
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