Quant Mutual Fund Reduces Minimum Redemption Amount from Rs 1,000 to Rs 1 for All Schemes

One of the most popular mutual fund houses, Quant Mutual Fund, with Rs 47,813 crore in assets under management as of December 31, 2023, has announced a reduction in the minimum redemption amount from Rs 1,000 to Re 1 across all plans and schemes, effective March 19, 2024.

This change removes restrictions on redemption value, allowing investors to withdraw any amount from their folio. Previously capped at Rs 1,000, investors can now redeem amounts in decimals as well, instead of whole numbers.

This decision stems from Quant Mutual Fund’s significant retail investor base, with the top 30 regions contributing approximately 30% of its business volume. Responding to the demands of this customer segment, the adjustment aims to facilitate their redemption process. Furthermore, considering the rising number of demat accounts, which only permit redemption in units, the decision to decrease the redemption amount is in the interest of the retail customer base.

Funds Performance

Quant Small Cap Fund has exhibited the highest 3-year CAGR returns of 40.90%, with an AUM of Rs 17,193.09 crore, followed by Quant Infrastructure Fund with 3-year CAGR returns of 40.48% and an AUM of Rs 2,207.59 crore. Similarly, Quant Mid Cap Fund has achieved a 3-year CAGR of 36.32% with an AUM of Rs 5,421.74 crore.

Change in Key Management

In official notices, significant changes in key personnel of AMC were announced. Ms. Khushboo Meshri has been appointed as the Chief Risk Officer of Quant Money Managers Limited, effective March 11, 2024, while Mr. Harshvardhan Bharatia has been appointed as the Dealer – Equity of Quant Money Managers Limited, effective March 15, 2024. These changes follow the resignation of Mr. Prabhat Bhardwaj and Ms. Nupur Mehta from their respective posts at Quant Money Managers Limited.

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Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.