Mix-up of mutual funds: Quantum MF clarifies it is different from probe-hit Quant MF

Quantum Mutual Fund has issued a statement distancing itself from the similarly-named Quant Mutual Fund after the latter came under Sebi scanner

Updated on: Jun 28, 2024, 10:51:15 IST

By Sanya Jain

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Quantum Mutual Fund has issued a statement distancing itself from the similarly-named Quant Mutual Fund after the latter came under Sebi scanner over allegations of front-running. In the last three days, Quant Mutual Fund investors have redeemed investments worth ₹1,400 crore as the market regulator reportedly started a probe over allegations of "front running”.

Quantum MF has clarified it is different from Quant MF (Representational image)

“Quantum MF and Quant MF are separate entities,” Quantum MF posted in an “important update” for its investors on social media yesterday.

“This is to clarify that Quantum Mutual Fund and Quant Mutual Fund are two different mutual fund houses,” the mutual fund house posted. “Quantum MF follows an investor First approach and has initiated many best practices which the industry has adopted years and decades after Quantum MF adopted them. Quantum MF has a robust research and investment process, and offers simple investment solutions for sensible, long-term investing,” it added.

In a separate graphic, the mutual fund house also said “a suit has been filed in the Mumbai High Court against Quant MF, restricting the use of the Trade Name Quant Mutual Fund which creates confusion with the Trade Name Quantum Mutual Fund.” The suit is pending in the High Court.

Take a look at the clarification below:

The clarification led to much amusement among investors and social media users. The comment section of Quantum Mutual Fund’s post was filled with laughing face emojis.

According to Reuters, the Securities and Exchange Board of India (SEBI) has begun investigating allegations of "front running"- or dealing on price-sensitive information before its general release - at Quant MF.

In the three days since, net redemptions were 1.5% of its 930 billion rupees in assets under management (AUM), "which is a small figure," Quant told investors in an email seen by Reuters.

It said its "operations are running smoothly" even as the SEBI's investigation was ongoing.

(With inputs from Reuters)

ABOUT THE AUTHOR
Sanya Jain
Sanya Jain is an Assistant Editor with Hindustan Times Digital. She has nearly a decade of experience in covering offbeat stories that speak to the everyday experience - from viral videos to human interest copies that spark conversation. Her interests stretch across business, pop culture, social media trends, entertainment and global affairs. Before joining Hindustan Times, Sanya spent two years with Moneycontrol and five years with NDTV. She holds an undergraduate degree in English literature from St Stephen’s College, Delhi, and a master’s in journalism from the Xavier Institute of Communications, Mumbai. Sanya has a sharp eye for spotting emerging trends and looking for newsworthy angles to elevate viral posts into meaningful narratives. She was the first one, for example, to cover Narayana Murthy’s remark on 70-hour work weeks that sparked a national conversation. She is equally at ease writing about business leaders as about the common man, about issues of national importance and memes that amuse social media. Sanya enjoys speaking with content creators, newsmakers and entrepreneurs to transform everyday moments into engaging, slice-of-life stories that resonate with readers. When she is not working, Sanya can be found curled up with a good book. Born and raised in Lucknow, she has spent the last several years in Delhi. She is deeply interested in animal welfare and now spends a lot of her time running after her destructive orange cat.Read More

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