SEBI has conducted search and seizure operations at Quant Mutual Fund’s offices; the group has given their response over the regulator’s action.
Quant Mutual Fund has said it is being enquired by markets regulator Sebi and it is fully committed to cooperating with the regulator throughout any review. As per the reports, the regulator has conducted search and seizure operations at Quant Mutual Fund’s office in Mumbai and Hyderabad.
The statement came after the media reported that Securities and Exchange Board of India (Sebi) is investigating Quant Mutual Fund over alleged front- running activities.
What Is Front-running?
Front-running refers to an illegal practice in the stock market where an entity trades based on advanced information from a broker or analyst before the information is made available to its clients.
In a note to investors late last night on Sunday, the fund house said, “Recently, Quant Mutual Fund has received inquiries from Sebi, and we want to address any concerns you may have regarding this matter.”.
“We want to assure you that Quant Mutual Fund is a regulated entity, and we are always fully committed to cooperating 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,” the fund house said.
Quant Mutual Fund History
Quant Mutual Fund is one of the fastest growing fund houses in the country with over 80 lakh folios and more than Rs 93,000 crore assets under management (AUM).
“Our primary goal remains unchanged: to deliver superior risk-adjusted returns to all our valued investors. Your confidence in Quant Mutual Fund is of utmost importance to us, and we are dedicated to maintaining transparency and adherence to regulatory standards,” it said.
Quant Mutual Fund said that it remains committed to delivering superior risk-adjusted returns in the future too.
(With Inputs From PTI)