Quantum Mutual Fund Clarifies It is Different From Probe-Hit Quant Fund

Quantum Mutual Fund has taken to X (formerly Twitter) to clarify its distinct identity from Quant Mutual Fund amid the latter’s ongoing Securities and Exchange Board of India (SEBI) inquiry and allegations of front-running.

What Happened: On Thursday morning, Quantum Mutual Fund released a tweet to clarify that it is a separate entity from Quant Mutual Fund. Quantum MF also mentioned a pending lawsuit against Quant MF in the Mumbai High Court over the use of a similar trade name, which has reportedly caused confusion.

“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,” the fund house added in the statement.

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This clarification comes in the wake of Quant Mutual Fund’s recent controversies, including a SEBI inquiry and allegations of front-running.

Why It Matters: Quant Mutual Fund confirmed a SEBI inquiry on June 24, pledging full cooperation with the regulator. The fund house has been under scrutiny after allegations of front-running surfaced. Following these developments, the investment recommendation platform Prime Investor advised investors to exit all equity and hybrid funds of Quant Mutual Fund.

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