On Wednesday, Aditya Birla Sun Life Asset Management Company announced that it has raised Rs 2,416 crore from a new fund offering for a quant fund. The company revealed that 1.23 lakh investors have contributed to this new offering. This open-ended equity scheme will utilize a ‘Quant-based’ approach in investing, employing a proprietary quantitative model that combines human insights with machine precision. A Balasubramanian, the managing director and chief executive, stated that this fund aims to harness the combined strengths of human expertise and quantitative models to provide investors with a unique investment solution. He also mentioned that the fund will offer improved transparency, emotion-free decision making, and robust risk management, presenting a strategic opportunity for investors.