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In response to reports of a search and seizure operation by the Securities and Exchange Board of India (SEBI) due to suspicions of front-running, Quant Mutual Fund has issued a statement.
The fund emphasised its commitment to full cooperation with the regulator and maintaining transparency.
In an official statement, Quant Mutual Fund said, “Recently, Quant Mutual Fund has received inquiries from SEBI, and we want to address any concerns you may have regarding this matter. We will provide all necessary support and continue to furnish data to SEBI on a regular and as-needed basis.”
Quant Mutual Fund assured its investors of its primary goal to deliver superior risk-adjusted returns.
The statement highlighted, “With over 8 million folios and an asset under management (AUM) of ₹93,000 crore, our commitment to maintaining investor confidence remains steadfast. We appreciate the trust and support of our investors, and our advanced research capabilities and analytical tools will continue to keep our investors ahead of the curve.”
SEBI’s investigation and actions
The market regulator SEBI conducted search and seizure operations on Sandeep Tandon-owned Quant Mutual Fund, suspecting front-running activities.
Sources revealed that the operation took place on Friday and Saturday, covering premises in Delhi, Mumbai, and Hyderabad.
SEBI’s investigation wing carried out the search after a detailed probe into allegations of front-running.
Quant Mutual Fund had been under surveillance by SEBI for a substantial period, and the investigation included extensive inquiries by the regulator.
Allegations of front-running
Front-running involves brokers or other insiders executing trades based on advance knowledge of pending orders from their clients, potentially manipulating the market.
This is considered a serious financial crime, as it undermines investor trust and market integrity.
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