Sebi probes Quant MF over front-running by employees

Sebi is investigating front-running by Quant Mutual Fund employees, leading to a decline in certain stocks. Front-running involves trading on advance information, breaching market regulations. Quant MF is one of the fastest-growing mutual funds, with over Rs 84,000 crore in assets under management as of May 31. In May 2022, Sebi directed entities involved in Axis Mutual Fund front-running case to collectively impound Rs 30 crore of wrongful gains. Sebi’s action resulted in the sacking of the mutual fund’s chief dealer.