IIFL launches IIFL Quant Fund - NFO opens on 8 Nov, closes on 22 Nov

IIFL Asset Management has announced the launch of IIFL Quant Fund. According to IIFL Asset Management, "This fund is an actively-reviewed, quantitative rule-based fund. The fund aims to invest in quality stocks that show secular growth or defensive characteristics with a disciplined approach to portfolio construction." 

"The IIFL Quant Fund will have periodic rebalancing and review. The New Fund Offer (NFO) opens on 8th November 2021 and closes on 22nd November 2021. The fund will be managed by Parijat Garg, Fund Manager, IIFL AMC," a company statement said.

Key highlights of the fund: 

- An Open-ended equity fund, based on quant theme

- Provides exposure to Top 200 stocks by market-cap and liquidity

- Suitable for investors seeking long-term capital growth 

- Minimum investment required during NFO is INR 1,000 and in multiples of INR 100/- thereafter

Commenting on the launch of IIFL Quant Fund, Manoj Shenoy, CEO, IIFL AMC, said, “The Passive+ approach that the fund follows is based on multiple quantitative factors that have been back-tested and historically proven to improve stock selection capabilities. The model has a fundamental basis with parameters clearly laid out and relies on a defined process while applying the same across a set of comparable stocks.”

Parijat Garg, Fund Manager, IIFL AMC, said, “Based on a quantitative model, the strategies of the IIFL Quant Fund are fully systematic and rule-based and would have additional filters for selecting quality momentum stocks. The fund universe will include the Top 200 stocks by market cap and liquidity.”