What are Quant Funds, and why are they NOT an outright success?

Automation is taking over many highly paid jobs around the world and money management may be no exception. One illustration of this phenomenon is Quant funds. What are Quant Funds? A quantitative fund (or Quant Funds, in short) is an investment fund in which investment decisions are determined by numerical methods rather than by human judgment. A quant fund, is therefore, a mutual fund