The Hindu Business Line : Quantum AMC launches first scheme

QUANTUM Asset Management Company Pvt Ltd on Thursday announced its entry into the Indian mutual fund industry by launching its first scheme `Quantum Long Term Equity Fund', an open ended equity-scheme.

Quantum Asset Management Company is the 29th fund house in the country.

Addressing a news conference here, Mr Ajit Dayal, Director, Quantum Mutual Fund, said the AMC would have a bouquet of products including a debt scheme over a period of time in India. The `Quantum Long Term Equity Fund' will select from 235 companies, in which the average daily trading volume is Rs 4.5 crore.

The new fund offer will have a portfolio of 25-40 stocks, mainly from sectors such as domestic consumption, exports and infrastructure, said Mr I.V. Subramaniam, Senior Fund Manager & Head (Research), Quantum Mutual Fund.

The offer, which commenced on Wednesday, will close on February 25.

Explaining its investment strategy, Mr Dayal said the Quantum Long Term Equity Fund will aim to give patient investors, with a long-term investment philosophy, a channel which performs when markets gain ground (the upside) and yet, aims to limit the downside of a declining market by a judicious mix of buying `value' stocks and staying in cash. "The fund is not embarrassed by maintaining a higher cash level - as and when required," he said.

Mr Arjun Marphatia, its CEO, said the marketing strategy would be through its regular channels, but added that going forward the AMC would tie-up with banks to distribute the products.

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