Quant Momentum Fund is the latest mutual fund scheme offered by Quant Mutual Fund. It is opened as NFO for now where investors can apply for the funds. The scheme will reopen for continuous sale after the allotment period. In this blog, we will look at what is Quant Momemtum Fund, how to invest, asset allocation, objective, and exit loads in our All You Need to Know about Quant Momemtum Fund.
What is Quant Momentum Fund?
Quant Momentum Fund is an open-ended mutual fund that will follow the sectoral category of momentum to generate returns for investors. Quant Momentum Fund NFO is open for public subscription from October 30, 2013, to November 13, 2023. The scheme will then re-open for continuous sale after five business days from the date of allotment where both residents and NRI investors can buy and sell the units like any other open-ended mutual fund.
Also read: Quant Mutual Fund for NRIs – A Comprehensive Overview of Schemes, NAV, and Performance
Overview of Quant Mutual Fund
Quant Mutual Fund is one of the trusted and oldest mutual fund houses offering various mutual fund schemes to investors both residents and NRIs alike. Quant Mutual Fund (formerly known as Escorts Mutual Fund) was incorporated in 1996. It was known as Escorts Mutual Fund before being bought by Quant Capital Finance & Investments Private Limited in 2018.
At the time of acquisition, Quant Mutual Fund which was still known as Escorts Mutual Fund had assets under management (AUM) of Rs 235 crore which has now grown to over Rs 18,000 crores (approx.) Quant Money Managers Limited (QMML) is the Asset Management Company running Quant Mutual Fund. There are 17 mutual fund schemes under Quant Mutual Fund spread across equity, debt, and hybrid funds which will increase to 18 after the addition of Quant Momentum Fund.
Also read: Best SIP to Invest in 2023 – Top 10 SIP Mutual Fund Plans for NRIs
What kind of mutual fund is Quant Momentum Fund?
Quant Momentum Fund is an equity mutual fund where 80 percent of the funds will be allocated to equity and equity-related instruments of companies with strong profit potential. It is suited for investors who are looking to generate capital appreciation via investing in equities that show momentum strategy.
Also read: Types of Mutual Funds in India
What is the main objective of Quant Momentum Fund?
Quant Momentum Fund’s primary investment objective is to achieve long-term capital appreciation for its investors. This will be achieved through strategic investing in a diversified portfolio of equity and equity-related instruments. The selection of these equities will be based on the quantitative model by the fund house to deliver the results over a specified investment horizon.
How will Quant Momentum Fund allocate its assets?
Here’s a tabular representation of the asset allocation for the Quant Momentum Fund:
| Asset Class | Minimum Allocation (%) | Maximum Allocation (%) | Risk Profile |
| Equity & Equity Related Instruments | 80 | 100 | Very High |
| Debt & Money Market Instrument | 0 | 20 | Low to Medium |
| Foreign Equity & Overseas ETFs | 0 | 20 | Very High |
| Units issued by REITs & InvITs | 0 | 10 | Very High |
Also read: HDFC Mutual Fund for NRIs – A Comprehensive Overview of Schemes, NAV, and Performance
Who can Invest in Quant Momentum Fund?
The following persons can invest in Quant Momentum Fund:
- Resident adult individuals either singly or jointly on an Anyone or Survivor basis
- Hindu Undivided Family (HUF) through Karta
- Minor (as the first and the sole holder only) through a natural guardian
- Partnership Firms
- Limited Liability Partnerships
- Proprietorship in the name of the sole proprietor
- Companies, Bodies Corporate, Public Sector Undertakings (PSUs.), Association of Persons (AOP) or Bodies of Individuals (BOI), and societies registered under the Societies Registration Act,1860
- Banks (including Co-operative Banks and Regional Rural Banks) and Financial Institutions
- Religious and Charitable Trusts, Wakfs or endowments of private trusts
- Non-Resident Indians (NRIs) / Persons of Indian origin (PIOs) / Overseas Citizen of India (OCI) residing abroad on a repatriation basis or on non- non-repatriation basis
- Foreign Portfolio Investor (FPI) registered with SEBI on a repatriation basis.
- Army, Air Force, Navy, and other para-military units and bodies
- Scientific and Industrial Research Organisations
- Multilateral Funding Agencies / Bodies Corporate incorporated outside India with the permission of Government of India / RBI
- Provident/ Pension/ Gratuity Fund to the extent they are permitted
- Other schemes of quant Mutual Fund or any other mutual fund subject to the conditions and limits prescribed by SEBI Regulations
- Schemes of Alternative Investment Funds
- Trustee, AMC or Sponsor or their associates may subscribe to Units under the Scheme
- Such other category of person(s) permitted to make investments and as may be specified by the AMC / Trustee from time to time.
Also read: Best Mutual Funds for NRI in India 2023
Investment Criteria for Quant Momentum Fund
Investors can invest in Quant Momentum Fund with a minimum investment of Rs 5000 per plan/option. After the minimum investment, investors can invest in multiples of Re 1. There is no upper limit for the investment criteria.
How will Quant Momentum Fund scheme benchmark its performance?
The scheme will benchmark its performance with NIFTY 500 TRI which represents the top 500 companies based on the full market capitalization from the blend of small, mid-cap and large-cap equity. The AMC reserves the right to change the benchmark for the evaluation if required to accentuate the performance of the scheme.
Who will manage Quant Momentum Fund?
The fund will be managed by:
- Sandeep Tandon: He is the founder of Quant Mutual fund and has 20 years of experience in the industry. He holds the qualification of MBA.
- Ankit Pande: He holds the qualification of CFA and MBA and has 9 years of experience in the field.
- Sanjeev Sharma: He holds the qualifications of PGDBA, M.Com, and CerTM and has 13 years of experience in the financial markets.
- Vasav Sahgal: He holds the qualification of B.Com and CFA and holds over 4 years of experience in the financial markets.
Are there any entry and exit loads in Quant Momentum Fund?
There is no entry load in the Quant Momentum Fund. This means investors do not have to pay anything to park their earnings in this mutual fund scheme. As for the exit load, it will be calculated with this formula:
- For redemptions/switch-outs (including SIP/STP) within 15 days from the date of allotment of units, irrespective of the amount of investment: 1%
Customer Care Details
For any query regarding any schemes offered by Quant Mutual Fund, you can contact the following address:
- Registered Address: 6th Floor, Sea Breeze Building, Appa Saheb Marathe Marg, Prabhadevi, Mumbai – 400025. Branch Timing (9 am – 6 pm)
- Phone no: 022-62955000
- Email: [email protected]
Can NRI invest in Quant Mutual Fund?
Yes, NRIs can easily invest in Quant mutual funds after getting their Mutual Fund KYC done and linked to their NRO/NRE Bank accounts. They can invest in various mutual fund schemes and generate good returns in the long term. This helps NRIs to build a fund that can match their investment goals and secure their future for any long-term financial needs.
The FEMA Act, RBI rules, and SEBI guidelines govern the rules and regulations regarding NRI investments in mutual funds which is why it has a slightly different procedure than that of resident individuals. Keeping in check with the FEMA Act, the funds on offer for NRIs from the US & Canada to NRIs from other countries may vary at times.
How can NRIs invest in Quant Mutual Funds?
NRIs and OCIs can download the SBNRI app to invest in mutual funds from the country of their residence. Here are a few simple steps you need to take:
- Complete your NRI KYC: Type in your personal details and attach supporting documents, like:
- PAN Number
- Overseas address proof: Any – Water/electricity bills, postpaid mobile/internet bills, rent agreements, driving licenses, etc.
- Passport – front and back
- Passport size photograph
- Signature
- Onboarding: After KYC, you need to share the following details to complete the onboarding process and start investing in mutual funds from Quant Money Managers Limited Onboarding:
- City and country of birth
- NRE/NRO bank account statement/ canceled cheque for the last 3 months
- Nominee details
How to Invest in Quant Mutual Funds as NRI?
NRIs can now download the SBNRI App and choose to invest in different Quant mutual funds for NRIs schemes from Quant Money Managers (QMML) in India with ease. You can also get detailed investment advice from experts at SBNRI. Also, visit our blog and YouTube channel for more details.
SBNRI is an authorized Mutual Fund Distributor platform & registered with the Association of Mutual Funds in India (AMFI). ARN No. 246671. NRIs willing to invest in mutual funds in India can download the SBNRI App to choose from 2,000+ mutual fund schemes or can connect with the SBNRI wealth team to better understand Mutual Fund investments.
FAQs
Can NRIs invest in Quant Money Managers (QMML) Mutual Funds?
- Yes, NRIs can invest in Quant Money Managers (QMML) Mutual Funds on a full repatriation and non-repatriation basis as long as they adhere to the Foreign Exchange Management Act (FEMA) guidelines. NRIs need to complete the KYC to invest in mutual funds in India.
How can NRI buy Mutual Funds from Quant Mutual Funds?
- Step 1: Set up an NRI Account: As per FEMA guidelines, after attaining the NRI status, you can’t park your money in a regular resident savings account in India and need to open an NRE or NRO account. Once the account is activated, you can start investing.
- Step 2: Get Your KYC Done: You need to complete the KYC process before starting investment in Quant mutual funds for NRIs in India.
Are Quant Mutual Fund’s schemes safe to invest in?
- Mutual funds are subject to market conditions and all market-linked investments come with a degree of risk. However, you can choose from low-risk to high-risk mutual funds to invest in as per your risk appetite and investing goals.
Which Quant Mutual Fund scheme is best for the short term?
- Generally, a short-term investment is ideal for up to 3 years. If you are planning short-term investment, consider Quant Mutual fund debt funds for NRIs. If your investment is up to three months, Quant Mutual Fund liquid funds for NRIs are ideal for you.
What is the taxation on Quant Debt Mutual Funds?
- The debt mutual fund tax has been changed with effect from April 1, 2023, after the Budget 2023 brought certain amendments. Debt mutual funds will no longer be allowed to avail of indexation benefits from FY 23-24. Any gains made on debt mutual funds investment will now attract taxation on applicable slab rates of the investor’s income bracket.
What are Debt funds vs. Equity Funds?
- Debt funds are mutual funds that invest money into fixed-income securities, corporate bonds, treasury bills, commercial papers, and more. On the other hand equity funds invest the money into stocks/shares of the company.
Are Quant debt mutual funds safer than Quant equity mutual funds?
- Debt funds invest in fixed-income securities, corporate bonds, treasury bills, commercial papers, and more while equity funds invest in stocks/shares of the company. This makes debt funds a relatively safer option as an investment than equity funds.
Are Quant equity mutual funds safer for NRIs?
- Equity mutual funds have high volatility and can be risky for investors. However, overseeing the returns generated by equity mutual funds for the past 15 years, these funds can be a great investment vehicle and offer great wealth-generation opportunities for NRIs.
Is Quant equity mutual funds safer than FD?
- Fixed deposits have a risk-free fixed income and are safer than equity mutual funds. However, as per the returns and growth opportunity, equity mutual funds look to be a better investment option for investors, residents, and NRIs alike.
What is the Quant liquid fund taxation for NRI?
- NRIs are liable to pay taxes on the capital gain earned from Liquid funds. The short-term capital gains for sell of liquid funds for a period under 3 years of holding are taxed at investor’s slab rates. After the Budget 2023 amendments, long-term capital gains won’t enjoy any indexation benefit and will be charged as per the investor’s slab rates removing the LTCG benefits altogether.
Can I invest from the USA in the Quant Mutual Fund?
- Yes an NRI can invest from the USA in India in various mutual fund schemes offered by Quant Mutual Funds for NRIs provided it complies with the FEMA Act, RBI guidelines, and SEBI guidelines.
Can NRI invest in SIP in Quant Mutual Fund in India?
- Yes, an NRI can invest in India through the SIP route in Quant Mutual Fund for NRI schemes. SIP stands for Systematic Investment Plan.
