Welcome to Quantum Mutual Fund.
Quantum Mutual Fund is India’s first dedicated, direct-to-investor mutual fund.
Quantum Mutual Fund offers simple and easy-to-understand products.
Investing for the long term is not complicated.
Any computer engineer, doctor, or scientist can be a good investor.
But it is practically impossible for a mutual fund manager with a business, commerce, or economics degree to be a computer engineer, doctor, or scientist.
Ever wonder why?
What counts in the business of investing – of investing your money – is:
Initial Knowledge => Experience => Learning from Mistakes + Common Sense = A Successful Investor
Yet the mutual fund industry is built around structures that encourage fancy products; layers of expensive costs; and reams of verbal garbage.
All these complicated and opaque structures add to your costs as an investor.
And any extra cost that is additional comes mostly from your money, from your returns.
How it Began
Setting up a mutual fund to invest in India was an idea that Ajit Dayal – the founder of Quantum – had when he was studying in USA in 1983.
Not being smart enough to be a doctor or a scientist, Ajit was keen to pursue a career in the field of investments.
And Ajit had a strong desire to “come back home” to India and “do something to change India”.
His stay in the US exposed him to the world of mutual funds.
Though India had the Unit Trust of India – then a government monopoly, which was a mutual fund – it was sold more like an investment in a fixed deposit.
Investors were promised a dividend by the agents.
No one knew what the true value of the underlying portfolio of UTI’s Unit Scheme 1962 was.
Sadly, this mis-selling and mis-declaration of the value of the UTI Funds finally led to its blow up in 2001 and a huge blow to investor confidence. (The existing UTI Mutual Funds rose from the ashes of the “old UTI”.)
Ajit decided to get into the financial services business – a business where there was no corruption and which would be a clean business.
(If I had known then, what I know now about the financial services industry”, quips Ajit, “I may never have entered this field! As a friend of mine in New York told me a few years ago: The closer you get to the money, the more it stinks!”)
But converting the dream to a reality took over 25 years.
While waiting to qualify for a mutual fund license to launch mutual funds, Ajit continued to gain knowledge and experience (and, yes, the common sense!) under the umbrella of Quantum Advisors.
Quantum Advisors is the Sponsor and parent company of Quantum Asset Management Company and the Quantum Mutual Fund.
From 1992 to 1995, Ajit and Quantum were the local partners of Jardine Fleming in India, then one of the largest FIIs in India.
Between 1996 and 2004, Ajit and Quantum managed money for various FIIs. Ajit was also the Deputy Chief Investment Officer of Hansberger Global Investors, Inc (a US-based company with over USD 5 billion of assets under management – with more money invested in stock markets worldwide than what UTI had invested in Indian stock markets).
Ajit was the lead manager of the USD 2 billion Vanguard International Value Fund.
Managing large pools of money gave Ajit tremendous confidence and added to his experience.
And over the years, Ajit has built a team that has allowed Quantum to adopt a very process-driven investment thesis.