Quantum Mutual Fund Review - Halal Finance Products
Reviewed quarterly and updated for major content changes.
Quantum Mutual Fund offers halal financial products and services designed to align with Islamic principles. These options provide alternatives to conventional interest-based financial products, using structures like Murabaha, Ijara, and Musharakah.
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HalalWallet 2026 Review
Quantum Mutual Fund - At a Glance
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Products Reviewed
All
Provinces (Nationwide)
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Category
Our Verdict
Quantum Ethical is a welcome third active option with one decisive caveat: it is not a certified Shariah fund. The process is published and sensible, the benchmark is the Shariah index, early performance is ahead of that benchmark, and Quantum's low-cost house culture shows in the 0.87% total TER on the page. But there is no Shariah board, no advisor, no certificate and no purification support, and the mandate explicitly includes Jainism and other ethical frameworks. For Muslim investors it is a satellite or watchlist position until certification appears; for broader values-based investors it is a solid product.
Pros & Cons
What We Like
- Beat its Shariah benchmark since inception (1.36% vs -2.15% direct, to Jul 31, 2026)
- Published, replicable screening funnel with an exclusion list and integrity scores
- Rs 100 daily SIP and moderate fees
- Quantum's process-driven, low-cost house reputation
What Could Be Better
- No Shariah certification, board, advisor or purification reporting
- Mandate broader than Shariah (Jainism and other ethical frameworks)
- 19 months old, Rs 111 crore - unproven at scale
- Holdings shown via an underlying-FOF view on the page, adding a layer of reading friction
Who Is Quantum Mutual Fund Best For?
Values-based investors
Published ethics-and-integrity process benchmarked to the Shariah index
Early adopters
Benchmark-beating start from a disciplined house
Detailed Analysis
Quantum Ethical Fund's December 2024 launch ended a 15-year drought in new Indian ethical/Shariah-linked equity funds (nothing had launched since Taurus in 2009). Its design is candid about being ethical-first: the investable pool is companies that 'form part of the ethical frameworks Shariah Compliant Universe, Jainism and such other Ethical principles', filtered through an exclusion list and then Quantum's proprietary integrity score (-70 to +30, only positive scorers qualify), producing a 30-50 stock portfolio.
The Shariah relevance is real but indirect. Anchoring to the Shariah Compliant Universe and benchmarking to the Nifty 500 Shariah TRI means the portfolio will substantially overlap a certified halal fund's. But without a named advisor, certificate or purification mechanism, a Muslim investor cannot verify the fund's holdings remain within Shariah bounds at any moment, nor cleanse prohibited income with fund-supplied numbers.
Early numbers favor the process: direct plan 1.36% since inception versus -2.15% for the benchmark, and 7.47% over the six months to Jul 31, 2026 versus 1.27%. CIO Chirag Mehta manages the fund; AUM was Rs 110.94 crore at 30/06/2026 with the page showing 0.64% base and 0.87% total TER.
How It Works
Open-ended SEBI-regulated equity scheme following an Ethical Theme. Shariah exposure comes via the ethical screen's use of the Shariah Compliant Universe and the Nifty 500 Shariah TRI benchmark; there is no Shariah certification layer.
Invest small
Rs 500 lumpsum or Rs 100 daily SIP via quantumamc.com or platforms.
Three-stage screen
750+ universe filtered to ~350 ethical names, then integrity-scored to a 30-50 stock portfolio.
Verify yourself
No purification or certification support - cross-check holdings with a screening app if strict compliance matters to you.
Shariah Compliance Review
Oversight Level
Review details on provider's website
Ethical screen includes the Shariah Compliant Universe (fund page, crawled 2026-08-06)
Benchmark: Nifty 500 Shariah TRI
No Shariah board, advisor, certificate or purification reporting published
Shariah compliance should always be verified directly with Quantum Mutual Fund. HalalWallet reports publicly available oversight information but does not issue fatwas or certify compliance.
How It Compares
Against Tata Ethical: Quantum is younger, smaller and uncertified but currently outperforming; Tata is the certified, purification-enabled core. Against Taurus: Quantum's process disclosure is comparable and its fees lower, but Taurus at least publishes an audit certificate. Muslim investors wanting certainty should hold Tata or the Shariah BeES ETF and watch Quantum for a certification upgrade.
vs. Tata Mutual Fund
The certified default with purification support.
Printed screens and an audit certificate, higher regular-plan cost.
Index-enforced passive compliance via SHARIABEES.
Bottom Line
A promising ethical fund that overlaps heavily with the Shariah universe but does not certify it. Watch it; size it as a satellite if you invest at all on strict halal criteria.
Products from Quantum Mutual Fund
Why It's Halal
The fund's ethical definition on its own page is 'Form part of the ethical frameworks Shariah Compliant Universe, Jainism and such other Ethical principles', and its Tier I benchmark is the Nifty 500 Shariah TRI, so the investable pool is anchored to the TASIS-screened Shariah universe. Honest caveats, stated plainly: Quantum publishes no Shariah board, no named Shariah advisor and no Shariah audit certificate for this fund; the screening is Quantum's proprietary ethics-and-integrity framework rather than a scholar-certified process, and the mandate is explicitly broader than Shariah alone. Muslim investors who require formal certification should treat this as an ethical fund with substantial Shariah overlap, not a certified halal fund (crawled quantumamc.com 2026-08-06).
Quantum Mutual Fund
Quantum Ethical Fund
India's newest ethical/Shariah-linked equity fund, an open-ended equity scheme following an Ethical Theme launched 20 December 2024 and benchmarked to Nifty 500 Shariah TRI. Asset size Rs 110.94 crore as on 30/06/2026; expense ratio shown on the fund page as 0.64% base and 0.87% total TER; NAV Rs 10.33 per unit as on 06/08/2026; minimum Rs 500 lumpsum or Rs 100 daily SIP. The published investment funnel starts from a 750+ stock addressable universe, applies ethical screening to about 350 names (companies in the Shariah Compliant Universe, Jainism-aligned and similar ethical frameworks), then Quantum's proprietary integrity score narrows to a 30-50 stock portfolio managed by CIO Chirag Mehta (crawled quantumamc.com 2026-08-06).
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Where Available
Based on listings we track, Quantum Mutual Fund operates nationwide:
Nationwide availability
Availability may vary by product type. Always verify current availability directly with Quantum Mutual Fund.
How We Compare
- • We review publicly available information from providers, including Shariah compliance documentation.
- • We compare financing structures, total costs, down payment requirements, and state availability.
- • We prioritize providers that clearly explain their halal compliance rationale and operate with transparency.
- • We note which products are available nationwide versus regionally.
- • Learn more about our methodology.
Quick Answer
Quantum Mutual Fund offers halal financial products that comply with Shariah principles, avoiding interest (riba) and prohibited industries. Their products are available in 1 state and include Investing options.
Key Takeaways
- Quantum Mutual Fund offers Shariah-compliant financial products that avoid interest and prohibited industries.
- Products are available in 1 state: Nationwide.
- Product categories include Investing.
- Always verify compliance directly with Quantum Mutual Fund and consult qualified Islamic finance advisors when needed.
- Compare Quantum Mutual Fund's products with other providers to find the best fit for your needs.
Important: HalalWallet provides educational information and comparisons to help you explore halal financial options. We do not provide financial, legal, or religious advice. Product structures and Shariah compliance oversight vary by provider. Always verify halal compliance directly with providers and consult with qualified Islamic finance advisors or scholars for guidance on specific products and your individual circumstances.
Sources and review process
This page is reviewed against HalalWallet editorial standards and source documentation.
Reviewed by: HalalWallet Editorial Team
Last reviewed: 2026-03-09
How to cite this page
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For time-sensitive claims (rates, fees, state availability), please verify directly with the provider's official documentation and note the retrieval date.
Related Guides
Frequently Asked Questions
What types of halal products does Quantum Mutual Fund offer?
Quantum Mutual Fund offers 1 product across 1 category. Quantum Mutual Fund is best for [object Object],[object Object]. Review the products listed above or contact Quantum Mutual Fund directly for current offerings.
How does Quantum Mutual Fund ensure Shariah compliance?
Ethical screen includes the Shariah Compliant Universe (fund page, crawled 2026-08-06) Benchmark: Nifty 500 Shariah TRI No Shariah board, advisor, certificate or purification reporting published
How does Quantum Mutual Fund work?
Invest small: Rs 500 lumpsum or Rs 100 daily SIP via quantumamc.com or platforms. Three-stage screen: 750+ universe filtered to ~350 ethical names, then integrity-scored to a 30-50 stock portfolio. Verify yourself: No purification or certification support - cross-check holdings with a screening app if strict compliance matters to you.
Is Quantum Mutual Fund available in my state?
Quantum Mutual Fund operates nationwide, though specific products may have regional limitations. Always verify current availability directly with Quantum Mutual Fund.
What are alternatives to Quantum Mutual Fund?
Against Tata Ethical: Quantum is younger, smaller and uncertified but currently outperforming; Tata is the certified, purification-enabled core. Against Taurus: Quantum's process disclosure is comparable and its fees lower, but Taurus at least publishes an audit certificate. Muslim investors wanting certainty should hold Tata or the Shariah BeES ETF and watch Quantum for a certification upgrade. Tata Mutual Fund: The certified default with purification support. Taurus Mutual Fund: Printed screens and an audit certificate, higher regular-plan cost. Nippon India Mutual Fund: Index-enforced passive compliance via SHARIABEES.
Are Quantum Mutual Fund's products more expensive than conventional options?
Halal financing structures can have different fee structures compared to conventional products. Some options may be competitive with conventional rates, while others may have different cost structures. Pricing varies by product type, location, and individual circumstances. Always compare total costs and terms when evaluating options.
How do I contact Quantum Mutual Fund?
Contact information for Quantum Mutual Fund should be available through their website or the product listings above. Use the action links provided with each product to visit Quantum Mutual Fund's website or contact them directly for more information.
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