Mutual Fund News : Union Mutual Fund files offer document for Union Hybrid Equity Fund

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Union Mutual Fund has filed offer document with SEBI to launch an open ended scheme named 'Union Hybrid Equity Fund'.

The investment objective of the scheme will be to achieve long term capital growth and generate income from a portfolio, predominantly of equity and equity related securities. The scheme will also invest in debt & money market instruments.

The performance of the scheme will be benchmarked against CRISIL Hybrid 35+65 Aggressive Index(TRI).

The New Fund Offer price is Rs 10 per unit and the minimum application amount for initial purchase is Rs 5,000 and in multiples of Re 1 thereafter. The scheme offers growth and dividend options.

It seeks to collect a Minimum Target Amount of Rs 10 crore.