Dear Friend,
Quantum Tax saver has been around for only 2 years i.e. starting of 2009 which was around the culmination of a bear phase and start of a stupendous bull phase. During these 8 quarters, it has delivered some good returns. Compared to it's peers, it has delivered some decent performance. However, a comparison of Qtr-on-Qtr numbers show that it hasn't been able to match upto the performance of far more established players.(Reference: Comapre FY2009-Q2 performance)
Another point of interest is the performance during bull-bear-bull phase. As an investor, I would like to know how the fund management handles these swings and volatility and how my capital is preserved. For Quantum Tax Saver, we don't have this data and hence, it's very difficult to take a judgment call. This fund hasn't yet been rated by VROL also.
Coming to the peers, both HDFC Tax Saver and Canara Robeco Tax Saver are pretty good long standing funds, both being rated with 5 stars by VROL. However, a comparison of expense ratios show that HDFC Tax Saver is a marginally better bet as compared to Canara robeco due to it's lower expense ratio.
However, if you are looking for a good fund with a decent track record, I can even suggest Fidelity Tax Advantage which has performed fairly well over past few years.
Happy Investing !!