For over a decade, the Union Mutual Fund has been the Union Bank of India’s investment wing. It has been striving to make its mark and has successfully boosted the economy through investment ventures and achieved sustainable investment in capital markets.
The Union Mutual Fund was set up on December 30 and had access to the client base of the bank and worked on it.
The AMC was known as Union KBC Mutual Fund. Because it was set up in collaboration with the KBC Asset Management NV, set in Belgium. KBC had a stake of 49%, but Union Bank always had a majority stake.
In the year 2016, when the Bank held the entire share, KBC pulled out shortly thereafter. Eventually, in 2017, Dai-ichi life, a company from Japan, acquired an almost 39.62% stake in the AMC. Though it did not change the structure of the AMC yet, Dai-ichi appointed a nominee to the Board of Directors.
Now the Union Mutual Fund is co-sponsored by the bank and Dai-ichi Life.
Regarding the bank, Union Bank of India will complete a hundred years of existence in the year 2019. It was inaugurated by Mahatma Gandhi in 1919. In the regime of Indira Gandhi, it was nationalized and since then grew in leaps and bounds. Presently, the bank has 240 branches all over India.
The bank also has a global presence, with its office in Abu Dhabi opened in 2007. It also has a branch in Sydney, Hong Kong, and Antwerp.
With an asset value of Rs 4 lakh crore and 4300 branches all over the country and beyond, it is listed in the Forbes 2000 list with 35000 employees.
In 2019-20, Union AMC’s total income rose to INR 48.36 Crore from 48.30 Crore in the previous financial year.
Important information about union mutual fund
| Name of the Mutual Fund | Union Mutual Fund |
| Established | 23rd March 2011 |
| Date of Incorporation | 30th December 2009 |
| Sponsors | Union Bank of India Dai-ichi Life Holdings, Inc. |
| Trustee | Union Trustee Company Private Limited |
| Chairman | Rajkiran Rai G. |
| CEO and MD | G. Pradeepkumar |
| CIO | Vinay Paharia |
| Investor Service Officer | Joseph Idichandy |
| Compliance Officer | Padmaja Shirke |
| Auditors | For Trustee Company – M/s. Chaitanya C Dalal & Co For Mutual Fund Schemes – M/s. Deloitte Haskins and Sells LLP For AMC – M/s. Jain Chowdhary & Co |
| Registrars | Computer Age Management Services Ltd. Address: 7th Floor, Tower II, Rayala Towers, 158, Anna Salai, Chennai – 600002 Phone: 1800-3010-6767 / 1800-419-7676 Fax: 044-30407101 Email: enq_h@camsonline.com Website: www.camsonline.com |
| Address, AMC | Unit No. 503, 5th Floor, Leela Business Park, Andheri Kurla Road, Andheri (East) Mumbai – 400059 |
| Phone | 022-67483300 / 1800-200-2268 |
| Fax | 022-67483400/3401/3402 |
| investorcare@unionmf.com | |
| Website | http://www.unionmf.com |
Ten top-performing union mutual fund schemes
1. Union Small Cap Fund
The Union Small Cap Fund, with a NAV of 21.2600 (Regular Growth) (as on 13th April 2021), is the top-performing fund in the ‘Equity: Small Cap’ category.
This open-ended fund was launched on 10th June 2014 and has given trailing returns of 85.56% in one year (as of 12th April 2021). The fund considers the NIFTY Smallcap 100 TRI as its benchmark.
Key information
| Minimum Investment | INR 5,000 |
| Minimum Additional Investment | INR 1,000 |
| Minimum SIP Investment | INR 2,000 |
| Minimum Withdrawal | INR 1,000 |
| Exit Load | 1% for withdrawals before 15 days |
| Return Since Inception (10th June 2014): | 11.65% (as on 13th April 2021) |
| Assets | INR 425 Crore (as of 31st March, 2021) |
| Expense Ratio | 2.38% (as of 28th February 2021) |
2. Union Value Discovery Fund
The Union Value Discovery Fund, with a NAV of 13.3900 (Regular Growth) (as on 13th April 2021), is the top-performing fund in the ‘Equity: Value Oriented category.
This open-ended fund was launched on 5th December 2018 and has given trailing returns of 58.41% in one year (as of 12th April 2021). The fund considers the S&P BSE 500 TRI as its benchmark.
Key information
| Minimum Investment | INR 5,000 |
| Minimum Additional Investment | INR 1,000 |
| Minimum SIP Investment | INR 2,000 |
| Minimum Withdrawal | INR 1,000 |
| Exit Load | 1% for withdrawals before 15 days |
| Return Since Inception (5th December 2018): | 13.19% (as on 13th April, 2021) |
| Assets | INR 116 Crore (as of 31st March, 2021) |
| Expense Ratio | 2.56% (as of 28th February, 2021) |
3. Union-Focused Fund
The Union Focused Fund, with a NAV of 14.4400 (Regular Growth) (as on 13th April 2021), is the top-performing fund in the ‘Equity: Flexi Cap’ category.
This open-ended fund was launched on 5th August 2019 and has given trailing returns of 57.72% in one year (as of 12th April 2021). The fund considers the S&P BSE 500 TRI as its benchmark.
Key information
| Minimum Investment | INR 5,000 |
| Minimum Additional Investment | INR 1,000 |
| Minimum SIP Investment | INR 2,000 |
| Minimum Withdrawal | INR 1,000 |
| Exit Load | 1% for withdrawals before 15 days |
| Return Since Inception (5th August 2019): | 13.19% (as on 13th April, 2021) |
| Assets | INR 190 Crore (as of 31st March, 2021) |
| Expense Ratio | 2.52% (as of 28th February, 2021) |
4. Union Long-Term Equity Fund
The Union Long Term Equity Fund, with a NAV of 32.7700 (Regular Growth) (as on 13th April 2021), is the top-performing fund in the ‘Equity: ELSS’ category.
This open-ended fund was launched on 23rd December 2011 and has given trailing returns of 58.43% in one year (as of 12th April 2021). The fund considers the S&P BSE 500 TRI as its benchmark.
Key information
| Minimum Investment | INR 500 |
| Minimum Additional Investment | INR 500 |
| Minimum SIP Investment | INR 500 |
| Minimum Withdrawal | INR 500 |
| Exit Load | Nil (Lock-in period – 3 years) |
| Return Since Inception (23rd December 2011): | 13.59% (as on 13th April, 2021) |
| Assets | INR 335 Crore (as of 31st March, 2021) |
| Expense Ratio | 2.33% (as of 28th February, 2021) |
5. Union Flexi Cap Fund
The Union Flexi Cap Fund, with a NAV of 26.4100 (Regular Growth) (as on 13th April 2021), is one of the top-performing funds in the ‘Equity: Flexi Cap’ category.
This open-ended fund was launched on 10th June 2011 and has given trailing returns of 58.68% in one year (as of 12th April 2021). The fund considers the S&P BSE 500 TRI as its benchmark.
Key Information
| Minimum Investment | INR 5,000 |
| Minimum Additional Investment | INR 1,000 |
| Minimum SIP Investment | INR 2,000 |
| Minimum Withdrawal | INR 1,000 |
| Exit Load | 1% for withdrawals before 15 days |
| Return Since Inception (10th June 2011): | 10.36% (as on 13th April 2021) |
| Assets | INR 482 Crore (as of 31st March 2021) |
| Expense Ratio | 2.38% (as of 28th February 2021) |
6. Union Large & Midcap Fund
The Union Large & Midcap Fund, with a NAV of 12.8500 (Regular Growth) (as on 13th April 2021), is one of the top-performing funds in the ‘Equity: Large & Midcap’ category.
This open-ended fund was launched on 6th December 2019 and has given trailing returns of 56.89% in one year (as of 12th April 2021). The fund considers the S&P BSE 250 Large MidCap TRI as its benchmark.
Key information
| Minimum Investment | INR 5,000 |
| Minimum Additional Investment | INR 1,000 |
| Minimum SIP Investment | INR 2,000 |
| Minimum Withdrawal | INR 1,000 |
| Exit Load | 1% for withdrawals before 15 days |
| Return Since Inception (10th June 2011): | 20.36% (as on 13th April, 2021) |
| Assets | INR 190 Crore (as of 31st March, 2021) |
| Expense Ratio | 2.63% (as of 28th February, 2021) |
7. Union Largecap Fund
The Union Largecap Fund, with a NAV of 13.8000 (Regular Growth) (as on 13th April 2021), is one of the top-performing funds in the ‘Equity: Large Cap’ category.
This open-ended fund was launched on 11th May 2017 and has given trailing returns of 52.62% in one year (as of 12th April 2021). The fund considers the S&P BSE 100 TRI as its benchmark.
Key information
| Minimum Investment | INR 5,000 |
| Minimum Additional Investment | INR 1,000 |
| Minimum SIP Investment | INR 2,000 |
| Minimum Withdrawal | INR 1,000 |
| Exit Load | 1% for withdrawals before 15 days |
| Return Since Inception (11th May 2017): | 8.55% (as on 13th April 2021) |
| Assets | INR 185 Crore (as of 31st March, 2021) |
| Expense Ratio | 2.14% (as of 28th February, 2021) |
8. Union Balanced Advantage Fund
The Union Balanced Advantage Fund, with a NAV of 13.8900 (Regular Growth) (as on 13th April 2021), is one of the top-performing funds in the ‘Hybrid: Dynamic Asset Allocation’ category.
This open-ended fund was launched on 29th December 2017 and has given trailing returns of 37.72% in one year (as of 12th April 2021).
The fund considers the S&P BSE Sensex 50 TRI and CRISIL Composite Bond TRI as its benchmark.
Key information
| Minimum Investment | INR 5,000 |
| Minimum Additional Investment | INR 1,000 |
| Minimum SIP Investment | INR 2,000 |
| Minimum Withdrawal | INR 1,000 |
| Exit Load | 1% for withdrawals before 15 days |
| Return Since Inception (29th December 2017): | 10.50% (as on 13th April, 2021) |
| Assets | INR 842 Crore (as of 31st March, 2021) |
| Expense Ratio | 2.49% (as of 28th February, 2021) |
9. Union Equity Savings Fund
The Union Equity Savings Fund, with a NAV of 12.3600 (Regular Growth) (as on 13th April 2021), is one of the top-performing funds in the ‘Equity: Equity Savings category.
This open-ended fund was launched on 9th August 2018 and has given trailing returns of 20.34% in one year (as of 12th April 2021). The fund considers the CRISIL Short-Term Debt Hybrid 75+25 TRI as its benchmark.
Key Information
| Minimum Investment | INR 5,000 |
| Minimum Additional Investment | INR 1,000 |
| Minimum SIP Investment | INR 2,000 |
| Minimum Withdrawal | INR 1,000 |
| Exit Load | 1% for withdrawals before 15 days |
| Return Since Inception (9th August 2018): | 9.08% (as of 13th April, 2021) |
| Assets | INR 169 Crore (as of 31st March, 2021) |
| Expense Ratio | 2.07% (as of 28th February, 2021) |
10. Union Corporate Bond Fund
The Union Corporate Bond Fund, with a NAV of 12.0392 (Regular Growth) (as of 12th April 2021), is one of the top-performing funds in the ‘Debt: Corporate Bond’ category.
This open-ended fund was launched on 25th May 2018 and has given trailing returns of 9.53% in one year (as of 12th April 2021). The fund considers the CRISIL Corporate Bond Fund as its benchmark.
Key information
| Minimum Investment | INR 5,000 |
| Minimum Additional Investment | INR 1,000 |
| Minimum SIP Investment | INR 2,000 |
| Minimum Withdrawal | INR 1,000 |
| Exit Load | 1% for withdrawals before 15 days |
| Return Since Inception (25th May 2018): | 6.64% (as of 13th April, 2021) |
| Assets | INR 378 Crore (as of 31st March, 2021) |
| Expense Ratio | 1.04% (as of 28th February, 2021) |
How can you invest in Union mutual fund via EduFund?
Investing in Union mutual fund via Edufund is a simple, four-step process.
Step 1 – Install the EduFund App from Google Play Store or Apple App Store and sign in to create an account online.
Step 2 – Select a plan – Browse through a wide range of Union mutual fund schemes and pick the perfect scheme for your financial aims.
You may invest in a Systematic Investment Plan (SIP) or a large sum. The EduFund app has an inbuilt recommendation engine that suggests the scheme that serves your financial objectives the best.
Step 3 – Keep track of your transaction(s) – The amount you invest in a specific scheme will reflect in your EduFund account in four working days.
You can keep track of the Union mutual fund NAV, statement, account balance, and other things in the app. The EduFund app gives you the option to redeem, purchase, or switch Union mutual fund units.
Step 4 – Take the advice of a Mutual Fund Counsellor – You can get in touch with a consultant to discuss your financial aims and get customized advice.
EduFund uses state-of-art encryption and authentication technologies to safeguard your transactions and secure your investments.
Best performing fund managers at union mutual fund
Mr. Vinay Paharia
Mr. Vinay Paharia functions as the Chief Investment Officer at KBC Union Bank Mutual Fund. Mr. Paharia has over 16 years of experience in the sector of financial services. He ventured into the financial domain as an Equity Research Analyst at First Global Stockbroking Pvt. Ltd.
He held the same designation at his following two organizations, DBS Cholamandalam AMC and K R Choskey Shares and Securities Pvt. Ltd. Just before joining Union Mutual Fund; he worked with Invesco Asset Management (India) Pvt. Ltd. for over 11 years.
Mr. Paharia has earned the degree of MMS in Finance from Welingkar Institute of Management. He also qualified as a CFA from the Institute of Chartered Financial Analysts of India. His years of experience and acumen in business have been a great asset for the Union Mutual Fund investment team, where he handles 9 UMF plans.
Some of the important funds under his leadership are Union Multi-Cap Fund, Union Small-cap Fund, and Union Equity Savings Fund.
Mr. Parijat Agrawal
Mr. Parijat Agrawal is a PGBM from IIM Bangalore. He heads the portfolio of Fixed Income at Union KBC Mutual Funds. He has a career that spans over two decades.
Mr. Agrawal has an in-depth knowledge of the financial market in India. His years of experience in finances make him the troubleshooter for financial glitches.
Mr. Agrawal associated himself with the Union Mutual Fund from its initial days and has been there for 9 years hence. Before that, he headed the Fixed Income portfolio at SBI Mutual Fund. He was also the Head of Treasury at the State Bank of Mauritius.
Mr. Agrawal is at the helm of affairs in the portfolio of Fixed Income At Union Mutual Fund. He is in charge of 12 schemes which amounts to a net AuM in excess of INR 2,009 Crore.
Among several others, Mr. Agrawal oversees the Union Balanced Advantage Fund, the Union Equity Savings Fund, and Union Dynamic Bond Fund.
Mr. Anshul Mishra
Mr. Anshul Mishra is among the most versatile Fund Managers at Union Bank KBC Mutual Fund. With experience spanning over a decade in the field, he has steadily given towering returns on all the funds he oversees.
Before joining the Union Mutual Fund, Mr. Mishra worked as the Fund Manager at IDBI Asset Management Ltd. for 3 years. He was associated with the ING Mutual Fund, where he was in charge of Equity and Tax Saving Funds for 5 years.
At the Union Mutual Fund, Mr. Anshul Mishra manages 9 schemes with a total AuM of over INR 1031 Crore. Some of his largest-grossing funds are the Union balanced Advantage Fund and the Union Large Cap Fund.
Mr. Agrawal holds an MBA and a CFA, as well as a B.E degree in Mechanical Engineering.
Mr. Anindya Sarkar
Mr. Anindya Sarkar has earned a double MBA in Finance and Risk Management from St. John’s University- School of Risk Management and Savitribai Phule Pune University, respectively. He brings twenty years of experience with him, which makes him one of the most sought Fund Managers at Union Mutual Fund.
Mr. Sarkar has been working with Union Bank KBC Mutual Fund since its initiation. He joined the Union Bank KBC Mutual Fund as its Vice President in Risk Management, a designation that he held for over eight years, before becoming a Fund Manager in the company.
Before joining Union Mutual Fund, Mr. Sarkar worked with several firms both in the country and abroad. He worked as a Broker at the ICAP India Pvt. Ltd and the DVF Ltd. Then he joined as a Risk Manager at The Navigators Group, Inc. in New York., Mr. Sarkaris in charge of 3 funds at the Union Mutual Fund with a net AuM of more than INR 346 Crore.
Why should you invest in a union mutual fund?
It is one of India’s largest AMCs and has many benchmark-beating funds to offer to its customers. It has an asset value of INR 3623.49 Crore and an extensive network of distributors providing its schemes to investors.
The AMC has around 4300 branches across the length and breadth of India. The Union Mutual Fund caters to the needs of all types of investors.
Select EduFund for investing in Union mutual fund
The process of investing in Union mutual funds through EduFund is straightforward and convenient. The consultants at EduFund are very experienced and give you personalized solutions for the financial ambitions that you aspire to achieve. A meager investment starting from INR 5,000 through EduFund can open avenues for you to increase your capital quickly.
- Unique Support for Children’s Education: Education has become expensive, but with EduFund, which has a dedicated team of experts to cater to your children’s needs, it is easy.
- Secure Transactions: The security used in EduFund is 128-SSL, the safest and RIA-registered.
- No Expertise Needed: All you need to do is rely on the process of EduFund. They will do all the needful without you being an expert in the field.
- Extra Value-Added Benefits: A free advisory and no-commission scheme is also available without any extra charges.
- Free Tools: You can use free tools like College Savings Calculator and SIP calculator to calculate the amount you will need in the future and save the appropriate amount.
- Earn More by Investing Less: Not only in Indian capital markets, but Edufund also helps you invest in US Dollars and other international mutual funds.
- Customized Research-Based Financial Plan: Before suggesting any investment to you, the team in Edufund scans almost a lakh data points and nearly 400 financial scenarios. So the reliability is huge, and the job is hassle-free.
Consult an expert advisor to get the right plan
FAQs
Which Union mutual fund is the best?
One of the top-performing Union mutual funds is Union Small Cap Fund. With a NAV of ₹29.45 as of 21st Dec 2022, this is the top-performing fund in the ‘Equity: Small Cap’ category.
What is the minimum SIP amount I can invest in top-performing Union mutual funds?
You can start Union bank’s top-performing SIPs at as low as INR 500.
Is Union mutual fund safe?
Under any scheme of Union mutual fund, investors aren’t offered any kind of assurance or guarantee for the safety of these schemes. However, the schemes provide benefits like dividend reinvestment, advanced portfolio, fair pricing, risk reduction, convenience, etc.
