This meant that 64,000 lesser number of people remained jobless in April compared to March. On Jun 5, the European Union statistics agency announced that unemployment rate in Eurozone fell to 7.6% in April from 7.7% in March. Unemployment Stable at its Lowest Level in Over a Decade A separate report, also released by Eurostat, stated that the region’s vacancy rates increased to only 2.3% in the first quarter. This indicates that Eurozone has remained largely resilient to global economic downturns. This marks its fastest pace of growth since 2009.įurthermore, this rate of growth is also higher than the 1.8% average in the past three years. Wage growth in Eurozone increased 2.5% in the first quarter of this year, higher than 2.3% from the last quarter of 2018. Such encouraging conditions call for investing in mutual funds from the region.Ī report released by Eurostat on Jun 17 stated that the region’s wage growth surged to its fastest pace in the past decade. Meanwhile, Eurozone’s exports to China also rose in double digits in the month despite fears regarding China’s economic slowdown.įurther, Eurozone’s unemployment fell to its lowest levels in more than a decade. The increase in exports was achieved on the back of increased demand for consumer goods as well as mineral fuels. Per the latest data from Eurostat on Jun 4, the single-currency consortium of 19 countries’ export rose 5.2% in April. Investors who are willing to go for this sort of trading-driven model would find a scheme like Quant MF more tax efficient than creating their own algorithms and personally conducting trades," said Dhirendra Kumar, CEO, Value Research.Exports from Eurozone continue to nudge higher despite trade war woes that are plaguing global markets. However, its performance has held up over the past 2 years even as its size has grown exponentially larger and it tops the charts in numerous categories.
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Their model is proprietary and hence cannot be fully understood. “Quant MF uses a host of data points, including macroeconomic ones to make its buy and sell decisions. If the market turns, I’m not sure how Quant MF will do," said a Mumbai based distributor on condition of anonymity. What I mean by that is high risk-high reward. I started recommending Quant Small Cap and Quant Active Fund to clients who wanted a PMS-like experience in February 2021. The portfolios across funds are quite similar and hence a broad overall strategy works across the board. In addition, the Quant MF portfolio also gets churned rapidly based on a tactical outlook. This means, a portfolio allocation close to the index with some positive or negative deviation. “Most mutual funds in India do some level of index-hugging. The returns posted by Quant’s outperforming schemes are similar despite their different categories.
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Thus, our high churning is nothing but a representation of our portfolio re-balancing strategy based on a risk on/risk off environment," said Sandeep Tandon, MD and CEO of Quant Capital. What’s interesting is that the same strategy seemed to have worked in schemes with very different mandates such as small cap, multicap and infrastructure. By managing our portfolio dynamically, we are also able to better manage the risk profiling of our schemes, thus, endeavour to deliver superior risk-adjusted returns.
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Our portfolios always adapt and reflect the changing market conditions, investor sentiments and act upon any in global macros. “Using VLRT framework, we are able to manage our funds dynamically. Our portfolios have a high turnover ratio for this reason but it is also the reason for our high returns," said Anupam Saxena, national sales head, Quant Mutual Fund told Mint in May 2021. “We give 2/3rd weightage to liquidity analytics and risk appetite (risk on or risk off) and 1/3rd to valuations. 55% of the AUM of Quant Small Cap Fund is in its direct plan, corresponding figures for Quant Active and Quant Tax Saver are 49% & 82%.
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The roller-coaster returns posted by Quant Mutual Fund attracted a horde of direct investors, many of whom invest through free online portals and are led by recent performance. They are likely to be changed very soon, anyway.
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It also makes any discussion of the stocks held by the schemes irrelevant. This flies in the face of the traditional ‘buy-and-hold with conviction’ model followed by most fund houses in India. In case of Quant Active and Quant Tax Saver, the turnover ratios are 211% and 283%, denoting even more churn. For Quant Small Cap, the ratio is 145% for 2021, meaning that the portfolio in its entirety was changed more than once. These ratios denote the percentage of a scheme’s portfolio that was changed in the past year. Quant Mutual Fund’s equity schemes across the board are characterised by incredibly high portfolio turnover ratios.