Mutual Fund News : Union Mutual Fund launches Union Midcap Fund

Publish Date:

Union Mutual Fund has launched an open ended Mid Cap Fund called ‘Union Midcap Fund’. It is mandated to predominantly invest in mid cap stocks.

The investment objective of the Scheme is to achieve long term capital appreciation and generate income by investing predominantly in equity and equity related securities of mid cap companies. However, there is no assurance that the Investment objective of the scheme will be achieved.

The performance of the fund will be benchmarked against Nifty Midcap 100 Index – TRI (Total Return Index).

The fund will be managed by Mr Vinay Paharia and Mr Hardick Bora.

The NFO opens for subscription on March 02, 2020 and closes on March 16, 2020.

The New Fund Offer is priced at 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 Regular Plan and Direct Plan having Growth Option, Dividend Payout, Dividend Re-Investment and Dividend Sweep Option.