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New Delhi:
The quant mutual fund is under investigation by market watchdog SEBI and has said it will fully cooperate with the regulator in any investigation.
The statement came in the wake of media reports that the Securities and Exchange Board of India (SEBI) is investigating quantitative mutual funds for alleged front-running activities.
According to reports, the regulator conducted search and seizure operations at the quant mutual fund’s offices in Mumbai and Hyderabad.
Front-running refers to the illegal practice in the stock market of making trades based on advance information from brokers or analysts before that information is made available to clients.
“Quantitative Mutual Funds recently received an inquiry from the Securities and Exchange Commission and would like to address any concerns you may have in this regard,” the fund company said in a note to investors late Sunday night.
“Quantitative Mutual Fund is a regulated entity and we are always committed to fully cooperating with the regulator during any review. We will provide all necessary support and continue to provide data to SEBI on a regular basis and as and when required,” the fund house said.
Quantitative Mutual Fund is one of the fastest growing fund houses in India with over 800,000 portfolios and assets under management (AUM) of over Rs 93,000 crore.
“Our primary objective remains the same – to deliver superior risk-adjusted returns to all our valued investors. Your trust in Quantitative Mutual Funds is of the utmost importance to us and we remain committed to maintaining transparency and adhering to regulatory norms,” ​​the company said.
Quantitative mutual funds said they will continue to focus on delivering superior risk-adjusted returns.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)
