Quant Mutual Fund on June 24, 2024, confirmed that it has received inquiries from the Securities and Exchange Board of India (Sebi) and is fully committed to complying with the review. In a letter to its investors, quant Mutual Fund said, “We will provide all necessary support and continue to furnish data to SEBI on a regular and as-needed basis”. Sebi possibly launched an investigation into alleged front-running allegations at Quant mutual fund, Moneycontrol reported adding that the search and seizure operation was conducted at locations in Mumbai and Hyderabad where dealers connected with the case were questioned.According to sources, Sebi has taken action following discrepancies noted during regular inspections. Audit firms had also raised concerns following their inspections.Quant Mutual Fund has been one of the fastest growing fund houses with assets of over Rs 93,000 crore from over 80 lakh folios, according to a letter sent to investors. Quant Group started operations in 2008, received its mutual fund license in 2017 and currently is in 18th position in the mutual fund industry in terms of AUM.At Quant, funds with the highest AUM include its small-cap fund (Rs 21,243 crore), mid-cap fund (Rs 7,593 crore) and active direct fund (Rs 10,204 crore). The small-cap stocks with substantial funding may see some volatility such as lender Jio Financial, Irb Infra Dev, Bikaji Food International, etc.
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