Publish Date:
Union Mutual Fund introduces – Union Innovation & Opportunities Fund
It is an open-ended equity scheme following innovation theme
Accordingly, the investment objective of the Scheme is to achieve long term capital appreciation by investing predominantly in equity and equity related securities of Innovative Companies. However, there is no assurance that the Investment Objective of the Scheme will be achieved.
Under normal circumstances, Union Innovation & Opportunities Fund will hold an allocation of 80% to 100% of its assets in Equity and Equity related Instruments of companies adopting innovation theme and 0% to 20% in Debt & Money Market Instruments.
As per the Scheme Information Document, Union Innovation & Opportunities Fund will invest predominantly (atleast 80% of net assets) in Equity and Equity Related Instruments of Innovative Companies, which in the opinion of the Fund Manager offer superior risk reward payoff.
The Scheme intends to invest in equity and equity related instruments of innovative companies which are identified with a fundamentals based bottom up approach. The Scheme is expected to invest in a portfolio of carefully selected stocks, offering attractive potential growth opportunities. It shall also consider other aspects like asset allocation, sector allocation. However, these aspects shall be an outcome of stock selection. The fund manager could use derivatives within the permissible limits for hedging and rebalancing the portfolio or such other purpose as may be permitted under the Regulations from time to time.
Union Innovation & Opportunities Fund’s performance will be benchmarked against Nifty 500 TRI
The scheme will be managed by Mr Hardick Bora and Mr Sanjay Bembalkar
The NFO opens for subscription on August 16, 2023 and closes on August 30, 2023. The schemes will reopen for continuous sale and repurchase on September 13, 2023.
The fund's face value is Rs 10/- per unit. The minimum subscription amount is Rs 1,000/- and in multiples of Re. 1/- thereof.
The scheme offers Regular Plan and Direct Plan each plan offers Growth and Income Distribution cum capital withdrawal option (IDCW) option.