May 15, 2026
RA Jainee
Quant Manufacturing Fund
| Fund at a Glance | |
| NAV Growth (Rs.) | 15.75 |
| NAV Bonus (Rs.) | — |
| NAV IDCW (Rs.) | 15.74 |
| Min. Investment (Rs.) | 5,000 |
| Min. SIP Investment (Rs.) | 1,000 |
| Min. No of Cheques | 6 |
| Benchmark | Nifty India Manufacturing TRI |
| AUM Rs. | 669 Cr |
| (As on 30-Apr-2026) | |
| Expense | 0.96% |
| 1 Year Return (%) | 9.76 |
| 3 Year Return (%) | — |
| 5 Year Return (%) | — |
| 10 Year Return (%) | — |
| Return Since Launch | 18.85% |
⚖️ Sahifund Review – Quant Manufacturing Fund ✔
PLUS:
• The fund has shown strong momentum across short-term periods, ranking among the top manufacturing funds in YTD, 1-month and 3-month performance.
• It has outperformed the benchmark manufacturing index in recent periods, indicating aggressive and timely sector positioning.
• Quant Mutual Fund is known for its high-conviction and dynamic investment style, which has attracted strong investor attention in thematic categories.
• Moderate AUM of Rs. 669 crore provides flexibility to capture opportunities in emerging manufacturing and small-cap segments.
• Strong exposure to mid-cap and small-cap manufacturing companies may help generate superior alpha during bullish economic cycles.
• Suitable for aggressive SIP investors seeking participation in India’s long-term manufacturing and Make-in-India growth story.
• Relatively reasonable expense ratio of 0.96% remains competitive considering the active thematic management style.
• The manufacturing theme remains structurally attractive due to government capex, PLI schemes and rising domestic industrialisation.
MINUS:
• The fund has a very concentrated portfolio with only 17 stocks, increasing stock-specific and volatility risks significantly.
• Top 10 holdings account for nearly 78% of the portfolio, making performance highly dependent on a limited number of bets.
• Portfolio turnover ratio of 131% is extremely high, indicating aggressive trading and active churn in the portfolio.
• The scheme still lacks a long-term track record across multiple market cycles as it is less than 3 years old.
• Compared to some peers like ICICI Prudential Mutual Fund manufacturing offerings, 1-year returns remain relatively weaker.
• Portfolio valuation remains expensive with portfolio P/E near 36, which may amplify downside risk during corrections.
• Heavy small-cap allocation above 41% can result in sharp drawdowns during volatile market phases.
• Manufacturing funds remain thematic in nature and can underperform diversified equity funds during sector rotation phases.
Sahifund View (Decisive Line):
A high-risk, high-conviction manufacturing theme fund suitable mainly for aggressive investors seeking alpha through SIP investing, but concentration risk and elevated volatility require strong long-term patience.
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| NFO Guidance |
What lies ahead? Below we decode returns consistency, portfolio concentration, peer positioning and risk profile in detail.
Suitable For Which Investors?
Nobody should invest in Manufacturing funds in our opinion, because:
• They have a narrow focus on only companies following the manufacturing theme
• Instead, diversified equity funds which invest across sectors/themes are better
If you still choose to invest:
1. Invest only through SIP
2. Have a 7+ year investment horizon
3. Be prepared to withstand interim sharp declines in investment value
Fund’s Investment Strategy:
The scheme seeks to generate long term capital appreciation by investing in equity and equity related instruments of companies that follow the manufacturing theme.
Fund Manager:
1) Ayusha Kumbhat
Education: CFA Level III, BSc (Hons) in Economics, MSc in Behavioural & Experimental Economics
Experience: She is working with Quant Mutual fund as Research Analyst for the past 15 months, specializing in investment research.
2) 5) Sameer Kate
Education: Bachelor of Computer Science, MBA from IME Pune.
Experience: Prior to joining Quant Mutual Fund, he was working with Investec Capital and Kotak Securities,
3) Varun Pattani
Education: Mr. Pattani is an ACA
Experience: Prior to joining Quant Mutual Fund, he has worked with boutique PMS firm.
4) Yug Tibrewal
Education: B.M.S, CFA L1
Experience: Yug is an investment professional with over 2 years of experience in dealing related activities
Fund Manager:
5) Ankit A Pande
Education: Mr. Pande has done CFA and MBA
Experience: Prior to joining Quant Mutual Fund he has worked with Infosys Finacle. Began his career in equity research in 2011.
6) Jignesh Shah
Education: Graduate – Sydenham College of Commerce and Economics, Mumbai, CFA – ICFAI
Experience: Prior to joining the Quant MF, he was associated with Nippon Life AMC. He subsequently held senior portfolio management positions at leading asset management firms including ICICI Prudential AMC and Aditya Birla Sun Life AMC.
7) Sandeep Tandon
Education: Mr. Tandon has done MBA (Finance)
Experience: Prior to joining Quant Mutual Fund, he has worked with ICICI Securities as Vice President, The Economic Times and IDBI AMC.
8) Sanjeev Sharma
Education: Mr. Sharma is a Commerce Graduate and PGDBA (Finance) from Symbiosis, Pune.
Experience: He has total work experience of 17 years including 13 years of experience in the financial market. He specializes in identifying crucial inflexion points in securities.
Investment Details
| Min. Investment (Rs) | 5,000 |
| Min. Addl Investment (Rs) | 1,000 |
| Min. SIP Investment (Rs) | 1,000 |
| Min. Withdrawal (Rs) | 1 |
| Min. No of Cheques | 6 |
| Min. Balance (Rs) | — |
| Lock-in Period | NA |
| Exit Load | 1% for redemption within 15 days |
Basic Details of Quant Manufacturing Fund
| Fund House | Quant Mutual Fund |
| Launch Date | 14-Aug-23 |
| Return Since Launch | 18.85% |
| Benchmark | Nifty India Manufacturing TRI |
| Riskometer | Very High |
| Type | Open-ended |
| Assets | 669 Cr |
| (As on 30-Apr-2026) | |
| Expense | 0.96% |
| (As on 30-Apr-2026) | |
| Risk Grade | — |
| Return Grade | — |
| Turnover | — |
Quant Manufacturing Fund Returns
| Fund name | YTD | 1D | 1M | 3M | 6M | 1Y | 3Y | 5Y | 7Y | 10Y |
| Quant Manufacturing Dir | 6.98 | 2.04 | 11.62 | 11.57 | 4.22 | 9.76 | — | — | — | — |
| BSE India Manufacturing TRI | -1.53 | -1.30 | 1.25 | -1.90 | -0.20 | 9.59 | — | — | — | — |
| Equity: Thematic-Manufacturing | 3.47 | 0.71 | 5.38 | 3.29 | 2.57 | 13.67 | — | — | — | — |
| Rank within category | 2 | 1 | 1 | 1 | 4 | 14 | — | — | — | — |
| Number of funds in category | 17 | 17 | 17 | 17 | 17 | 16 | 5 | 2 | 2 | 1 |
Peer Comparison of Quant Manufacturing Fund
| Rating | 1 Year Returns | 3 Year Returns | 5 Year Returns | Expense Ratio (%) | Net Assets (Rs Cr) | Return Since Launch (%) | Exit Load (Days) | Fund Age | Turnover (%) | |
| Quant Manufacturing Dir | Unrated | 9.76 | — | — | 0.96 | 669 | 18.85 | 1.00 (15) | 2Y 9M | 131.00 |
| HDFC Manufacturing Dir | Unrated | 11.86 | — | — | 1.07 | 10,361 | 6.87 | 1.00 (30) | 1Y 11M | 27.09 |
| ICICI Pru Manufacturing Dir | Unrated | 15.08 | 25.05 | 21.56 | 0.78 | 6,614 | 20.18 | 1.00 (365) | 7Y 7M | 27.00 |
| Axis India Manufacturing Dir | Unrated | 14.10 | — | — | 0.61 | 5,206 | 19.14 | 1.00 (90) | 2Y 4M | 55.00 |
| Kotak Manufacture in India Dir | Unrated | 16.18 | 22.98 | — | 0.98 | 2,669 | 20.03 | 0.50 (90) | 4Y 2M | 36.17 |
Quant Manufacturing Fund Portfolio
| No. of Stocks | 17 |
| Top 10 Stocks | 77.81% |
| Top 5 Stocks | 45.04% |
| Top 3 Sectors | 62.73% |
| Portfolio P/B Ratio | 3.14 |
| Portfolio P/E Ratio | 35.87 |
Portfolio Breakup
| Fund | Category | |
| Average Mkt Cap (Rs Cr) | 38,226 | 1,14,699 |
| Giant (%) | — | — |
| Large (%) | 30.50 | 56.00 |
| Mid (%) | 27.76 | 23.65 |
| Small (%) | 41.74 | 20.35 |
| Tiny (%) | — | — |
Disclaimer: Mutual fund investments are subject to market risks. Read all scheme related documents carefully
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