Amid the ongoing front-running investigation on Quant Mutual Fund, another fund house Quantum Mutual Fund has issued a clarification to clear the confusion due to the similar name and reassured investors that it is a different entity from the one involved in the Sebi investigation.
“This is to clarify that Quantum Mutual Fund and Quant Mutual Fund are two different mutual fund houses,” Quantum Mutual Fund’s wrote in a post on social media platform X.
The fund house further added that a suit had been filed in the Mumbai High Court against Quant MF, restricting the use of the Trade Name Quant Mutual Fund which created confusion with the Trade Name Quantum Mutual Fund.
“Furthermore, we have issued multiple clarifications to investors, distributors and brokers on the confusion caused by the use of a similar sounding name by another mutual fund house - which was launched 12 years after we launched Quantum Mutual Fund,” it said.
SEBI has questioned Quant MF dealers and persons connected with the case and the alleged profits from the front-running operations were around Rs 20 crore. Meanwhile, its Chief Executive Sandeep Tandon has assured investors that the allegations were overblown and they should not redeem their investments in panic.
On Monday, in a statement in the company said it wanted “to assure you that Quant Mutual Fund is a regulated entity, and we are always fully committed to cooperate with the regulator throughout any review".
Also watch: SEBI probe into Quant MF: Founder Sandeep Tandon addresses concerns, says no alarming redemptions