Union Mutual Fund launches Union Large & Midcap Fund

Union AMC has launched an open-ended large & mid cap mutual fund scheme. The new fund offer (NFO) opens for subscription on November 15 and closes on November 29. The scheme will re-open for continuous sale and repurchase on December 13.

According to a press release sent by the fund house, the scheme is benchmarked against S&P BSE 250 Large & Mid Cap TRI and will be managed by Vinay Paharia, Chief Investment Officer, Union AMC. The minimum investment required is Rs 5,000 and in multiples of Rs 1 thereafter.

The scheme will predominantly invest in equity and equity related instruments of large and mid cap companies. The fund house said that the new scheme will be managed by following an active management strategy coupled with tactical allocation.

“We believe that the Indian equity markets are fairly valued now. Several measures taken by the Government to make India a $5 trillion economy by year 2025 augurs well for the equity markets in general. This product offering is in line with our long term plan of making Union AMC a one stop shop for investors with varied investment requirements,” said G. Pradeepkumar, Chief Executive Officer (CEO), Union Asset Management Company.

G. Pradeepkumar added that, “Our research says that one of the biggest beneficiaries of this Gross Domestic Product growth could be bluechip and emerging bluechip companies. Hence, it makes sense for investors to be part of such an investment strategy.”


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