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19 Nov 2024
Quant Mutual Fund has responded to the Securities and Exchange Board of India's (SEBI) recent search and seizure operations regarding a suspected front-running case. The fund emphasized its cooperation with SEBI and its dedication to delivering superior risk-adjusted returns.
In a client note, Quant Mutual Fund acknowledged SEBI's inquiries and reassured clients of its ongoing commitment to transparency and regulatory compliance. The fund affirmed its status as a regulated entity, pledging full cooperation with SEBI and regular data provision.
The fund reiterated its primary goal of maintaining superior risk-adjusted returns, expressing gratitude for the support from its 8 million-plus folios and 93,000 assets under management (AUM). Quant highlighted its robust research capabilities and analytical tools aimed at benefiting investors.
Quant Mutual Fund stated, "Your confidence in Quant Mutual Fund is of utmost importance to us, and we are dedicated to maintaining transparency and adherence to regulatory standards."
SEBI's investigation suspects that either a dealer from Quant or a broking firm used by the fund was leaking trade information. The regulator's operations included raids at Quant's Mumbai headquarters and the addresses of suspected beneficiaries in Hyderabad, with digital devices like mobiles and computers being seized.
Executives at Quant with access to non-public order information are currently under scrutiny.
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