Quant Mutual Fund reduces the minimum redemption amount to Re 1: Here's what investors need to know

This change allows investors to withdraw any amount from their folio, including decimals, instead of being restricted to whole numbers.

Quant Mutual Fund, a leading player in the mutual fund industry with assets under management (AUM) totaling Rs 47,813 crore as of December 31, 2023, has recently made a significant adjustment to its redemption policies. Effective March 19, 2024, the minimum redemption amount across all plans and schemes has been reduced from Rs 1,000 to Re 1, removing previous limitations on redemption values. This change allows investors to withdraw any amount from their folio, including decimals, instead of being restricted to whole numbers.

The decision to revise the redemption policy stems from Quant Mutual Fund's sizable retail investor base, which contributes approximately 30 per cent of its business volume, with the top 30 regions being significant contributors. Responding to the demands of this customer segment, the adjustment aims to streamline the redemption process for investors. Additionally, with the increasing number of demat accounts, which only permit redemption in units, lowering the redemption amount is seen as beneficial for the retail customer base.

Quant Small Cap Fund has demonstrated the highest 3-year Compound Annual Growth Rate (CAGR) returns of 40.90 per cent, managing an AUM of Rs 17,193.09 crore. Following closely, Quant Infrastructure Fund has achieved a 3-year CAGR return of 40.48 per cent with an AUM of Rs 2,207.59 crore. Similarly, Quant Mid Cap Fund has recorded a 3-year CAGR of 36.32 per cent with an AUM of Rs 5,421.74 crore.

In official announcements, notable changes in key personnel at the AMC were disclosed. 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 taken on the role of Dealer - Equity, effective March 15, 2024. These appointments follow the resignations of Mr. Prabhat Bhardwaj and Ms. Nupur Mehta from their respective positions at Quant Money Managers Ltd.

Disclaimer: The article is for informational purposes only and not investment advice.