Quantum Mutual Fund has launched its first open-end equity-linked savings scheme – Quantum Tax Savings Fund.
Investment Strategy:
The fund will maintain a diversified portfolio of stocks picked up from the BSE 200 index on the basis of attractive valuations. The fund can fully allocate its assets in equity and up to 20 per cent in debt and money market instruments.
Fund Manager:
Atul Kumar is the fund manager of the scheme. He has eight years of experience in the equity market. Currently, he is the Fund Manager –Equity at Quantum AMC and manages Quantum Long Term Equity Fund. The fund has generated a negative return of 51.61 per cent as against its benchmark BSE TRI Sensex which fell by 54.5 per cent (Jan 2008-Nov 2008).
AMC Performance:
The AMC currently manages only four schemes – Quantum Long Term Equity Fund, Quantum Index Fund, Quantum Gold ETF and Quantum Liquid Fund. The AMC has just Rs. 55.4 crores (November 30, 2008) of assets under management, the second lowest after Baroda Pioneer Mutual Fund.
Suitability & Recommendation:
The fund house with a few offerings and a brief history is yet to make a mark in the industry. The offered scheme would have a large-cap oriented portfolio, but investors have a wide variety of options available to choose from the existing 31 open-end tax planning schemes.
Basic Details:
NFO Opens: December 10, 2008
NFO Closes: December 13, 2008
Benchmark: BSE 30 TRI
Plans: Growth & Dividend
Options: Dividend Payout & Dividend Re-investment
Load Structure: Entry Load - Nil, Exit Load – Nil
Minimum Application Amount: Rs500
Lock In Period: 3 years
Fund Manager: Mr. Atul Kumar
