Tata Mutual Fund launches AI-powered quant fund

Hyderabad: Tata Mutual Fund said it launched an Artificial Intelligence and Machine Learning powered Tata Quant Fund, an open-ended equity mutual fund scheme that follows quant-based investing theme.

The asset management company said, the fund would invest in equity and equity related instruments which form part of S&P BSE 200 and Equity Derivative Segment.

The New Fund Offer which opened on January 3, 2020, will close on January 17, 2020.

The minimum application amount for this fund is Rs 5,000 and in multiples of Re 1 thereafter. Any additional investment will be of Rs 1,000 and in multiples of Re 1 thereafter, it added.

Sailesh Jain, Fund Manager, Tata Asset Management, said: "Tata Mutual Fund has developed an intelligent machine-driven strategy which keeps in mind the appetite of long-term equity investors."

Tata Quant Fund is available with their digital channel partners, Paytm Money and Groww App.