Investment Objective and Approach

The Investment Objective of the Union Innovation & Opportunities Fund 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.

This is an open-ended equity scheme following innovation theme and benchmarks against Nifty 500 Index (TRI). The fund focuses on companies that demonstrate innovation in their business models, products, or services, positioning investors to benefit from India's evolving economy and technological advancement.

The scheme invests in companies across various sectors that showcase innovative approaches, whether through technology adoption, disruptive business models, or novel solutions to market challenges. This thematic approach allows investors to participate in India's innovation story while maintaining diversification across market capitalizations.

Fund Managers

The fund is managed by two experienced professionals:

Mr. Sanjay Bembalkar - Co-managed since inception of the fund

Mr. Sanjay Bembalkar is the Co-Head Equity at Union Asset Management Company Private Limited. He is a CFA® charter holder with the CFA Institute, USA, and a Chartered Accountant from the Institute of Chartered Accountants of India (ICAI). He has also done M.Sc. (Accounting and Finance) from the London School of Economics. In his professional career of more than 14 years, he has worked with Canara Robeco Asset Management Company Limited as Fund Manager –Equities and Research Analyst. Further, he has also worked with LIC Mutual Fund Asset Management Limited and Quantum Advisors Private Limited in various capacities.

Mr. Gaurav Chopra - Co-managed since November 01, 2024

Mr. Gaurav Chopra is the Co-Fund Manager at Union Asset Management Company Private Limited. He is an equity fund manager with over 8 years of experience as a Research Analyst in the financial market. Before joining Union AMC, he was associated with Centrum Portfolio Management Services-Centrum Broking Limited.

About the Fund House (AMC)

Union Mutual Fund, the investment arm of Union Bank of India, has been a significant player in India's asset management sector for over a decade. Established in December 2009, the AMC aimed to build a robust asset management portfolio in India.

Key Milestones:

- Initially operated in collaboration with KBC Asset Management NV, a Belgium-based AMC, under the name Union KBC Mutual Fund, where Union Bank maintained the majority stake of 51%, and KBC holding a 49% share.

- The partnership concluded in 2016 as KBC withdrew from the agreement, leading to Union Bank of India acquiring their shares, thus making Union Mutual Fund its wholly-owned subsidiary.

- In 2017, Dai-ichi Life, a prominent Japanese financial services company, acquired a 39.62% stake in the AMC.

Current Status:

- As of December 2023, the fund house reported assets under management (AUM) averaging Rs. 13,594 crores.

- Total AUM: 14446.51 Cr (as of recent data)

The AMC leverages Union Bank of India's extensive network while maintaining professional fund management practices and adheres to regulatory guidelines for investor protection.

Should I Invest in Union Innovation & Opportunities Fund?

This fund may be suitable for investors who:

Align with Innovation Theme: Those seeking exposure to companies driving innovation across sectors and believe in India's technological and business model evolution.

Long-term Investment Horizon: The scheme aims to achieve long term capital appreciation, making it suitable for investors with investment horizons of at least 5-7 years.

Moderate to High Risk Appetite: Being an equity-oriented scheme focusing on innovative companies, it carries inherent market risks and volatility.

Diversification Goals: Investors looking to add thematic exposure to their portfolio while maintaining diversification across innovative companies.

Key Considerations:

- AUM: ₹854.34 Cr indicating reasonable fund size

- Minimum Investment: Minimum SIP Investment is ₹500 and Minimum Lumpsum Investment is ₹1,000

- Exit Load: 1%, if redeemed within 1 year

- Expense Ratio: 2.25%

Remember that mutual fund investments are subject to market risks, and past performance doesn't guarantee future results. Consider consulting with a financial advisor to determine if this fund aligns with your investment objectives and risk profile.

FAQs

What is today's NAV of Union Innovation & Opportunities Fund?

The NAV changes daily based on market conditions. You can check the current NAV on Allvest's platform or the fund house website for the most up-to-date information.

What is the AUM of Union Innovation & Opportunities Fund?

The current AUM of Union Innovation & Opportunities Fund is ₹854.34 Cr.

What is the expense ratio of Union Innovation & Opportunities Fund?

The Expense Ratio of Union Innovation & Opportunities Fund is 2.25%, which covers fund management and operational costs.

What are the returns of Union Innovation & Opportunities Fund since inception?

Since inception returns vary with market conditions. Check Allvest's platform for the most current performance data and detailed return analysis.

What is the minimum SIP amount to invest in Union Innovation & Opportunities Fund?

The minimum SIP investment amount is ₹500, making it accessible for small investors to start their investment journey.

How do I invest in Union Innovation & Opportunities Fund?

You can invest through Allvest's platform by completing your KYC, selecting the fund, choosing investment amount, and completing the payment process online.

How to start a SIP in Union Innovation & Opportunities Fund?

On Allvest's platform, select the fund, choose SIP option, set your monthly investment amount, select SIP date, and authorize auto-debit for seamless investing.

How do I automate an SIP in Union Innovation & Opportunities Fund?

After setting up SIP on Allvest, enable auto-debit authorization from your bank account to ensure automatic monthly investments without manual intervention.

How can I withdraw/redeem my investment in Union Innovation & Opportunities Fund?

You can redeem your investment through Allvest's platform by selecting partial or full redemption. Note that exit load of 1% applies if redeemed within 1 year.