Quantum growth scheme to reopen on March 16

Quantum Asset Management Company Private Limited that launched an open-ended growth scheme - Quantum Long Term Equity Fund - on February 8, 2006, will reopen it on March 16, 2006, after it closes on February 25, 2006.

It will include a Systematic Investment Plan (SIP) also in the scheme when it reopens. SIP involves periodic investments in a mutual fund.

Addressing the media, Ajit Dayal, director, Quantum Mutual Fund, said, "Our mutual fund scheme targets the long-term investor, wherein long term means at least more than two-and-a-half years. That is why, while there is no entry load, we are charging exit loads starting with four per cent if an investor leaves within six months moving towards nil after a period of two years."

Meanwhile Dayal said that he expects a squeeze in margins for companies in India in the next 6-18 months because of rising interest rates, companies spending more on expansion, raw material and increasing human resources cost as well as intensifying competition.

"Therefore, we expect the growth for companies in India to slow down in the next 6-18 months," he added.