Comments
The capital market regulator SEBI crackdown on Quant Mutual Fund on a suspected front-running case will shake investors confidence in the fast growing mutual fund industry.
SEBI had conducted search and seizure operations at Quant MF offices in Mumbai and Hyderabad. In an e-mail sent to its investors, Quant MF confirmed that it has received inquiries from SEBI.
The email said, “We want to assure you that Quant Mutual Fund is a regulated entity, and we are always fully committed to cooperate with the regulator throughout any review. We will provide all necessary support and continue to furnish data to SEBI on a regular and as-needed basis.”
Founded by Sandeep Tandon, Quant MF has been one of the fastest growing mutual fund in the country, with assets growing touching ₹90,000 crore against ₹100-odd crore in 2019.
The fund house received SEBI approval to enter MF business in 2017. It crossed assets of ₹50,000 crore in January with 26 schemes and 54 lakh folios.
The small-cap fund of Quant MF has delivered an annualized return of 45 per cent in the last five years against the industry’s average of 31 per cent. It has an asset under management of ₹20,000 crore.
Over the past one year, the fund clocked a return of 69 per cent against the category average of 55 per cent.
Earlier, SEBI has barred Viresh Joshi, the fund manager of Axis Mutual Fund, and 20 entities linked to him in a front running case linked to the fund house.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.