Aditya Birla AMC Quant Fund Raises Rs 2,416 Cr

Mumbai, Jul 3 (PTI) Aditya Birla Sun Life Asset Management Company on Wednesday said it has raised Rs 2,416 crore from the new fund offering for a quant fund.

The company said a total of 1.23 lakh investors have put in their bets for the new offering, a company statement said.

The open-ended equity scheme will be following the 'Quant-based' approach in investing, using a proprietary quantitative model which blends human insights with machine precision, it said.

"This fund is aimed at leveraging the combined strengths of human expertise and quantitative models to provide investors with a differentiated investment solution," its managing director and chief executive A Balasubramanian said.

He added that the fund will offer a strategic opportunity to investors with improved transparency, emotion-free decision making and robust risk management.