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Quant mutual fund front-running case: Clients pulled ₹1,398cr days after SEBI probe, says founder-CEO Sandeep Tandon | Mint

Livemint

Livemint · 1y ago

Quant mutual fund front-running case: Clients pulled ₹1,398cr days after SEBI probe, says founder-CEO Sandeep Tandon | Mint

Sandeep Tandon, CEO of Quant Mutual Fund, revealed that clients withdrew $168 million (₹1,398 crore) in three days following news of an investigation by the Securities and Exchange Board of India (SEBI) into the fund's suspected involvement in front-running. Tandon assured investors that the fund is operating as usual and fully cooperating with SEBI. Experts believe the investigation will have minimal impact on investors due to the fund's investments in quality stocks.

Related News

SEBI crackdown on Quant MF: What is front-running?

Livemint

Livemint · 1y ago

SEBI crackdown on Quant MF: What is front-running?

Market regulator SEBI conducted search operations at two premises of Quant Mutual Funds due to suspicions of front-running, a form of market manipulation. The operations took place at Quant's head office in Mumbai and Hyderabad. Front-running involves trading in a stock or financial instrument based on inside information about a future transaction that could affect its price. SEBI defines front-running as an unethical practice where brokers trade an equity based on information from the analysis department before their clients receive the same information. Quant Mutual Funds, with an AUM of over ₹90,000 crore, stated that it will cooperate with SEBI.

Quant mutual fund: A look at who they are, their philosophy, and success...

Livemint

Livemint · 1y ago

Quant mutual fund: A look at who they are, their philosophy, and success...

Quant Mutual Fund, one of the fastest-growing funds in India with over ₹90,000 crore AUM, has come under scrutiny by the SEBI for suspicion of front-running. The company has pledged full cooperation with the regulator. The fund follows a guiding philosophy of "being relevant" and relies on predictive analytics and objectivity. They offer various funds including quant Active Fund, quant Absolute Fund, quant Focused Fund, and more. The fund has delivered strong performance in the past, with its Quant Active Fund Growth delivering a CAGR of 31.36% over five years.

Have money to deploy today? Put it in pharma funds, says Sandeep Tandon

Economic Times

Economic Times · 21d ago

Have money to deploy today? Put it in pharma funds, says Sandeep Tandon

Sandeep Tandon, CIO of Quant Mutual Fund, highlights India’s economic decoupling from developed markets, seeing Asia's emerging markets in a favorable position. He strongly recommends investing in pharmaceutical funds, citing the sector's resilience and strong potential, despite potential US tariff threats. Tandon underlines India's generics as a key advantage, with firms like Lupin and Aurobindo Pharma having substantial US operations, thus providing an investment 'no-brainer' during the evolving market dynamics.

Quant Mutual Fund’s AUM & NAV hits an all-time high for most schemes: Report | Mint

Livemint

Livemint · 1y ago

Quant Mutual Fund’s AUM & NAV hits an all-time high for most schemes: Report | Mint

Quant Mutual Fund's assets under management (AUM) have reached an all-time high of ₹94,000 crore, according to a recent report. The fund house informed investors about this amidst an ongoing investigation by the Securities and Exchange Board of India (SEBI) regarding an alleged case of front-running. Despite the scrutiny, Quant Mutual Fund reported net outflows of ₹696 crore, which is less than 1% of its AUM. The firm also stated that its liquidity situation is healthy, with over 54% of assets being liquid.

SEBI mutual fund stress test: Quant MF says smallcap fund to take 22 days for 50% liquidation

Money Control

Money Control · 1y ago

SEBI mutual fund stress test: Quant MF says smallcap fund to take 22 days for 50% liquidation

Quant Mutual Fund has disclosed the time taken for liquidation of its Quant Mid Cap Fund and Quant Small Cap Fund portfolios. The liquidation time for 50 percent of the portfolios is six days for the Quant Mid Cap Fund and 22 days for the Quant Small Cap Fund. For 25 percent of the portfolios, the liquidation time is three days for the Quant Mid Cap Fund and 11 days for the Quant Small Cap Fund. This disclosure comes in response to the Association of Mutual Funds in India's request for fund houses to conduct stress tests and publish the results. Quant Mutual Fund is one of the first fund houses to publish this data.

Sebi steps in to curb front-running by mutual funds

Livemint

Livemint · 1y ago

Sebi steps in to curb front-running by mutual funds

The Securities and Exchange Board of India (SEBI) has approved amendments to mutual fund regulations to address front-running and fraudulent transactions. SEBI will establish an institutional mechanism that includes enhanced surveillance systems, internal control procedures, and escalation processes to curb misconduct such as front-running, insider trading, and misuse of sensitive information. SEBI has also streamlined prudential rules for passive mutual fund schemes to allow for increased exposure to group companies and approved greater flexibility for non-resident Indians and overseas citizens in certain foreign portfolio investors.

Quant MF front-running case: Reliance, Adani Power, IRB Infra, SAIL among top holdings of Quant Smallcap | Mint

Livemint

Livemint · 1y ago

Quant MF front-running case: Reliance, Adani Power, IRB Infra, SAIL among top holdings of Quant Smallcap | Mint

Quant Mutual Fund's small-cap investment vehicle holds a diverse portfolio of stocks, including Reliance Industries, HDFC Bank, IRB Infrastructure, RBL Bank, and Jio Financial Services. The fund is currently under investigation for allegedly engaging in front-running practices. Around 68% of the fund is invested in small-cap stocks, while 28% is invested in large-cap stocks. The top holdings of the Quant Small Cap Fund include Reliance Industries, Jio Financial Services, HDFC Bank, IRB Infrastructure Developers, and Bikaji Foods International. The fund house has issued a statement expressing its commitment to cooperate with regulators regarding the investigation.

SEBI confirms involvement of LIC employee in front-running of a big client's trades

Money Control

Money Control · 1y ago

SEBI confirms involvement of LIC employee in front-running of a big client's trades

The Securities and Exchange Board of India (SEBI) confirmed that an employee of Life Insurance Corporation of India (LIC) was involved in the front-running of a major client's trades. The regulator served an interim order to the employee and four other entities, impounding over Rs 2.44 crore in illegal gains. The noticees have been restrained from accessing the securities market until further orders. SEBI initiated the investigation after receiving surveillance alerts of possible front-running between January 2022 and March 2022, examining trades from January 2020 to March 2022.

JM Financial says will fully cooperate with Sebi in probe into public issue of debt securities

Livemint

Livemint · 1y ago

JM Financial says will fully cooperate with Sebi in probe into public issue of debt securities

JM Financial Ltd has stated that it will cooperate with the Securities and Exchange Board of India (SEBI) in its investigation into the public issue of debt securities. This comes after SEBI barred the company from accepting new mandates as a lead manager for these securities due to regulatory violations. While JM Financial can continue with existing mandates for 60 days, SEBI will conduct an investigation into the matter within six months. Just days earlier, the Reserve Bank of India had also barred JM Financial from providing any financing against shares and debentures.

Front running case: Sebi bans 2 persons from securities market for 6-month

Livemint

Livemint · 7m ago

Front running case: Sebi bans 2 persons from securities market for 6-month

Markets regulator Sebi has banned two individuals, Mandar Ulhas Bhatkar and Vikrant Bhimrao Kadam, from the securities market for six months over front-running activities. They are ordered to disgorge ₹34.26 lakh in wrongful gains and face a ₹5 lakh penalty each. Sebi's investigation revealed Kadam, using Bhatkar's account, traded on insider information about SVI Consolidated Pvt. Ltd. trades, breaching regulations between November 2020 and September 2021.

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