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Quantum Advisors Private Limited (“Quantum”/“QAS”) was founded by Ajit Dayal in January 1990 as India’s first institutional equity research house, eighteen months before the landmark economic reforms that accelerated India’s growth. Incorporated in 1990, the firm has evolved into a SEBI-registered Portfolio Manager, a SEC-registered Investment Adviser, and operates as a restricted portfolio manager in select Canadian provinces. With over three decades of experience, Quantum focuses on disciplined, long-term investing rooted in governance and research-driven processes.
Quantum’s mandate is to invest client capital for sensible long-term returns without taking undue risks. The firm has incorporated governance as a core investment factor for over 25 years, recognizing the importance of ESG principles, particularly the “G” in ESG. Since 2015, it has expanded its sustainability focus through a proprietary ESG evaluation framework for Indian companies. Quantum follows a rigorous qualitative and quantitative fundamental analysis approach, emphasizing intrinsic value, margin of safety, disciplined portfolio construction, diversification, and risk control. The philosophy centers on predictable outcomes, integrity screening (in place since 1996), financial soundness, and responsible investing to build clean, sustainable portfolios over long investment horizons.
Q India Value Equity Strategy - Constrained V
Q India Value Equity Strategy - Constrained XIX
Q India Value Equity Strategy
Q India Value Equity Strategy - Constrained XVIII
Quantum OCIO Strategy
Q India Sovereign Focus Bond Strategy
Q India Value Equity Strategy - Constrained XVII
Q India Small Cap Strategy
Q India Responsible Returns Strategy
Q India Ethical Return Strategy
Ajit Dayal
Founder and Member – Portfolio Team
Founder of Quantum Advisors Private Limited in 1990 with over 40 years of experience in asset management and financial research. Former Deputy Chief Investment Officer at Hansberger Global Investors (2000–2004), where AUM grew from USD 2 billion to USD 5 billion. Lead manager for Vanguard International Value Fund (USD 2 billion). Previously associated with Jardine Fleming and UTI Investment Advisory Services. Holds a Bachelor’s degree in Economics from Bombay University (1981) and an MBA from the University of North Carolina at Chapel Hill (1983).
I.V. Subramaniam
Managing Director & Group Head – Equities
Over 33 years of experience in investment management and financial services. Joined Quantum in 1996 and has managed India-dedicated portfolios for domestic clients since 2000 and international clients since 2005. Previously worked in research and advisory roles including coverage of Indian and global companies. Bachelor’s degree in Commerce (1983) and Law degree (1986) from Osmania University. CFA Charterholder.
Arvind Chari
Chief Investment Strategist
Over 21 years of experience tracking Indian and global economies as a dealer, analyst and portfolio manager in fixed income markets. Joined Quantum in 2004 to build fixed income and macroeconomic research. Helped launch among the first open-ended India bond funds for foreign investors in 2010. Holds Master’s degrees in Commerce and Management Studies from Mumbai University.
Piyush Thakkar
Chief Executive Officer
Over 25 years of experience across Indian and multinational organizations, with 17 years in financial services. Joined Quantum in 2010 as VP-Finance, served as COO (2011–2020), and appointed CEO in January 2021. Previously worked at Marsh India. Bachelor’s degree in Commerce from Raipur University (1996). Chartered Accountant from ICAI.
Rajendra Thakkar
Head of Risk Control
Over 24 years of experience in operations, accounting, auditing and client servicing. Joined Quantum Group in 2009 and appointed Head – Risk Control in 2012. Previously worked at Edelweiss Asset Management Ltd as Head – Operations. Bachelor’s degree in Commerce from Mumbai University (1994). Chartered Accountant from ICAI.
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