Quant MF on Sebi’s radar
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New Delhi: Quant Mutual Fund has said it is being enquired by markets watchdog Sebi and it is fully committed to cooperating with the regulator throughout any review.The statement came after media reported that Securities and Exchange Board of India (Sebi) is investigating Quant Mutual Fund over alleged front- running activities.
As per the reports, the regulator has conducted search and seizure operations at Quant Mutual Fund’s office in Mumbai and Hyderabad. Front-running refers to an illegal practice in the stock market where an entity trades based on advanced information from a broker or analyst before the information is made available to its clients.
In a note to investors late night on Sunday, the fund house said, “recently, Quant Mutual Fund has received inquiries from Sebi, and we want to address any concerns you may have regarding this matter. We want to assure you that Quant Mutual Fund is a regulated entity, and we are always fully committed to cooperating with the regulator throughout any review. We will provide all necessary support and continue to furnish data to Sebi on a regular and as-needed basis,” the fund house said.
