New Fund Offer From Union Mutual Fund
Union Mutual Fund announced the launch of Union Large & Midcap Fund. It is an open-ended equity scheme investing in both large-cap and mid-cap stocks. The New Fund Offer (NFO) period opened for subscription on Nov 15, 2019, and will close on Nov 29, 2019. The fund house offers approved investment funds, open-ended equity funds, and other products.
Union Asset Management Company is an investment manager to Union Mutual Fund. The fund house wants to recognize as the mutual fund that provides the right product to the right client at the right time. Union MF had 12 open-ended schemes like Union Multicap Fund, Tax Saver scheme, Liquid scheme, and equity schemes across large, mid, and small-cap stocks, etc.
In Fiscal 2018 to 2019, the fund house has launched Union Corporate bond, Equity savings, Value discovery, Arbitrage, and Overnight funds. As of 31st March 2019, the MF received a profit of Rs 5.72crores. The fund house continues to grow its number of the investor base.
According to the report, the Union Overnight Fund was launched in March 2019. The net asset value of the scheme under the Reg-Growth plan was up 7.75% and Dir-Growth was up 7.87%.
The fund house plans to launch its new fund offer in November. It will announce other details of funds such as scheme plans, minimum investment, redemption, entry & exit details.