India’s Quant Mutual Fund investors pull out “small” $167 mln amid regulatory probe

BENGALURU, June 27 (Reuters) – India’s Quant Mutual Fund said on Thursday that its investors withdrew about 13.95 billion rupees ($167 million), a “small” figure”, in the three days since the market regulator reportedly started a probe over allegations of “front running”.

Local news media had on Sunday reported, opens new tab that the Securities and Exchange Board of India (SEBI) was investigating allegations of “front running”- or dealing on price-sensitive information before its general release – at the mutual fund.