In the recent three days, net stock outflows totaled Rs 1,398 crore, or 1.5% of total AUM.

Sandeep Tandon, the founder and chief investment officer of Quant Mutual Fund, announced on Wednesday that during the previous three days, net equity outflows totaling Rs 1,398 crore, or 1.5% of the fund house's total asset under management (AUM), had occurred.

Following media reports last week alleging that the Securities and Exchange Board of India (SEBI) searched and seized Quant Mutual Fund due to possible front-running at its Hyderabad and Mumbai offices, the fund company saw redemptions.