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The Securities and Exchange Board of India (Sebi) is investigating Quant Mutual Fund over suspicion of front-running by managers. The investigation is part of Sebi's ongoing efforts to ensure market integrity and protect investors. Front-running is the trading of stocks by someone privy to information about a large impending transaction that will move prices. It is illegal in India. Moneycontrol reported that the search and seizure operation was conducted at locations in Mumbai and Hyderabad and Quant dealers and people connected with the case were questioned.In an official statement, Quant Mutual Fund said, "Recently, Quant Mutual Fund has received inquiries from SEBI, and we want to address any concerns you may have regarding this matter. We will provide all necessary support and continue to furnish data to SEBI on a regular and as-needed basis."Quant Mutual Fund assured its investors of its primary goal to deliver superior risk-adjusted returns. The statement highlighted, "With over 8 million folios and an asset under management (AUM) of ₹93,000 crore, our commitment to maintaining investor confidence remains steadfast. We appreciate the trust and support of our investors, and our advanced research capabilities and analytical tools will continue to keep our investors ahead of the curve."Sources revealed that the operation took place on Friday and Saturday, covering premises in Delhi, Mumbai, and Hyderabad. SEBI's investigation wing carried out the search after a detailed probe into allegations of front-running. Quant Mutual Fund had been under surveillance by SEBI for a substantial period, and the investigation included extensive inquiries by the regulator. Front-running involves brokers or other insiders executing trades based on advance knowledge of pending orders from their clients, potentially manipulating the market. This is considered a serious financial crime, as it undermines investor trust and market integrity. The market regulator’s action follows discrepancies noted during regular inspections, the sources said. Audit firms had also flagged concerns after their inspections, which they had submitted to Sebi.

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