Quant Mutual Fund house’s assets under management (AUM) and net asset value (NAV) for most of their mutual fund schemes have hit an all-time high, the fund house told its investors, reported Moneycontrol.
The total assets managed by the firm have reached a new all-time high of ₹94,000 crore as of Friday, July 12, as per the report. Quant informed its investors about this development after releasing an email clarifying details about the Securities and Exchange Board of India’s (SEBI) investigation for an alleged case on front-running.
Quant Mutual Fund said that the regulator’s data collection was not part of a regular process but was “a court-approved search and seizure operation with respect to an on-going investigation,” said the asset management company (AMC).
Quant updated their investors about the fund outflows from the AMC on the message to investors. The fund house said that it had ₹696 crore as net outflows, and ₹877 crore as net equity outflows, which remains less than 1 per cent of the AUM of the company. The current AUM stands at more than ₹94,000 crore, an all-time high, as per the report.
The liquidity situation is extremely healthy with more than 54 per cent of assets liquid, including Large-cap stocks, T-bills, G-secs, Gold, and Silver, according to the report.
“Our superior risk-adjusted returns generated by our schemes are in line with our dynamic style of money management,” reported Moneycontrol quoting the message to investors.
This comes at a time when the Quant Mutual Fund house faces SEBI scrutiny over an alleged case of front-running. Media reports on June 23rd stated that SEBI was investigating the fund house over certain practices carried out by the AMC. Quant Mutual Fund reassured the investors to support the ongoing SEBI investigation in its note to their clients.
“We will provide all necessary support and continue to furnish data to SEBI on a regular and as-needed basis,” said the fund house in the note.