Whereas the fund home didn’t refute the media reviews, its preliminary response solely said that it had acquired enquiries from Sebi.
Quant Mutual Fund on Saturday confirmed that the regulatory enquiry was not an everyday train however “a court-approved search and seizure operation” carried out with respect to an ongoing investigation initiated by the Securities and Trade Board of India (Sebi).
On June 27, Quant MF issued an FAQ, characterising the Sebi enquiry as a routine process. “It is a common, ongoing course of worldwide, the place regulators acquire and analyse knowledge,” it mentioned.
Nonetheless, in a contemporary e-mail to buyers, the fund home up to date the FAQ, for the primary time conceding that the Sebi motion ‘not an everyday train.’ All different responses of the FAQ stay unchanged.
Notably, Quant MF claims to have acquired no additional communication from the regulator for the reason that searches have been carried out.
The primary reviews of Sebi searches on the fund home premises got here to mild on June 23. As per sources, the regulator is investigating potentialities of entrance operating on the fund home. The searches adopted discrepancies famous throughout common inspections.
Whereas the fund home didn’t refute the media reviews, its preliminary response solely said that it had acquired enquiries from Sebi.
The investigation led to a small dent within the complete property of the quickest rising main fund home in India.
In line with a report by Worth Analysis, Quant MF confronted its first weekly web outflows of 2024 in June’s last week, at Rs 2,800 crore. This outflow was seen as breaking a six-month streak of constructive inflows by the fund home. On the finish of June, the overall property beneath administration (AUM) of the fund home stood at Rs 89,869 crore.
First Printed: Jul 13 2024 | 2:26 PM IST