Ajit Dayal has resigned from the company as the managing director of Quantum Mutual Fund last week.
Under Ajit’s leadership, Quantum Mutual Fund has introduced direct plan in mutual funds in India in 2006.
After his resignation, the CEO of Quantum Mutual Fund, Jimmy Patel is the new managing director of the company. Jimmy Patel joined Quantum AMC in May 2010 as the CEO.
In a letter sent to investors, Ajit assures that management of funds will remain intact. “The portfolios, particularly for the Quantum Long Term Equity Fund, have been managed by team-led processes: no single individual can claim the wonderful long-term track record that has been established,” says Ajit.
Ajit has more than three decades of experience in the Indian capital market and eight years of experience in the international stock market as an analyst and a portfolio manager. He was also the lead manager of the then USD 2 billion Vanguard International Value Fund.
Ajit will continue to mentor fund management team of Quantum Mutual Fund. “I am available to meet them when they need guidance. We had already started having meetings of two groups of people: (i) senior management to ensure a core ethical value is intact, and (ii) a portfolio discussion on the investment world and on specific issues like demonetization, GST, etc. I would hope to speak to our loyal investors at many more Path To Profits - more time with our investors will be great!,” says Ajit in an internal interview published on their website.
In February, Quantum Mutual Fund has introduced regular plans of their schemes and started to pay commission to distributors.
Quantum MF manages AUM of Rs.1,066 crore as on June.
