CORPORATE PROFILE UNION ASSET MANAGEMENT CO. PVT. LTD - INVESTMENT MANAGER TO UNION MUTUAL FUND - Union MF
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CORPORATE PROFILE
UNION ASSET MANAGEMENT CO. PVT. LTD. -
INVESTMENT MANAGER TO UNION MUTUAL FUND
June 2021
INDEX
INTRODUCTION
UNION MUTUAL FUND BUSINESS BREAKUP – SNAPSHOT
SHARE HOLDING-TIMELINE
ABOUT SHAREHOLDERS
BOARD OF DIRECTORS-TRUSTEE COMPANY
BOARD OF DIRECTORS-ASSET MANAGEMENT COMPANY
MANAGEMENT TEAM
INVESTMENT TEAM
PRODUCT OFFERING
PRODUCT POSITIONING-EQUITY SCHEMES
PRODUCT POSITIONING-DEBT SCHEMES
PRODUCT POSITIONING-HYBRID SCHEMES
EQUITY INVESTMENT PHILOSOPHY AND PROCESS
FIXED INCOME INVESTMENT PHILOSOPHY AND PROCESS
PRODUCT LABELLING
DISCLAIMER
2
INTRODUCTION
Union Asset Management Company
Private Limited, is a subsidiary of
Union Bank of India.
Statutory Auditors:
Registrar & Transfer Agent : M/s. Deloitte Haskins and Sells LLP
Custodian:SBI-SG Global Securities
Computer Age Management - For Mutual Fund Schemes
Services Private Limited
Services Ltd. M/s. Jain Chowdhary & Co - For
AMC
No. of Schemes No of Live Folios as on Presence in : AAUM June 2021:
Open ended : 17 30th June 2021: 3,13,645 18 Cities ₹6316 crore
3
UNION MUTUAL FUND AAUM* BREAKUP
T30 v/s B 30 Category of Investor
65%
T30 : Top 30 cities 1 : Retail Investor
as identified by 35% 33%
AMFI 2 : Corporates
35%
B30 : Other than 3 : Banks/FIs
T30
5 : High Networth
6% Individuals
26%
Category of Schemes Distribution Channels
65%
57%
Liquid/ Money Market
Other Debt Schemes Through Associate Distributors
Growth / Equity Oriented Schemes Through Direct Plan
Through Non - Associate Distributors
20% 21% 21%
14%
*AAUM: Average Assets Under Management
4
SHARE HOLDING-TIMELINE
The Mutual Fund was originally co-sponsored by Union Bank of India and KBC
Participations Renta, a 100% subsidiary of KBC Asset Management NV.
Subsequently in Sept 2016, Union Bank of India acquired the entire
shareholding held by KBC Participations Renta in Union Asset Management
Company Private Limited (AMC) and Union Trustee Company Private Limited
On 17th May 2018, Dai-ichi Life Holdings, Inc. invested in Union AMC to the
extent of 39.62% of the post issue share capital of Union Asset Management
Company Private Limited. Consequently, Union Bank of India and Dai-ichi
Life Holdings, Inc. have become Co-sponsors of Union Mutual Fund.
5
ABOUT SHAREHOLDERS
Union Bank of India
Public Sector Bank, founded in 1919, in existence for over 100 years, headquartered in Mumbai
Branches: 9300+
Gross Advances: ATM: 12957 Basel III Total CAR:
₹ 6,53,684 crore (Above figures are post merger 12.56%
of Andhra Bank and
Corporation Bank)
Total deposits: Overseas branches in Hong Kong, Sydney, Dubai and Antwerp, in
addition to representative offices in Abu Dhabi and one overseas
₹ 9,23,805 crore subsidiary office
Source: Annual Reports/Quarterly Financial Results March 2021
6
ABOUT SHAREHOLDERS
Dai-ichi Life Holdings, Inc.
Founded in 1902, in existence for over 118 years, holding company headquartered in Tokyo. Two regional
headquarters in United States of America and Singapore.
Total Assets of Asset
Domestic Life Overseas Life
¥ 63,593.7 Billion Management
Insurance Business Business
as on March 2021 Business
Consolidated Dai-ichi Frontier Protective Life, TAL Asset
Solvency Margin Life, Dai-ichi Life & & Dai-ichi Life Management One
Ratio as of March Neo First Life Vietnam
2021: 958.5%
Source: Annual Reports/Quarterly Financial Results March 2021
7
OVERVIEW OF ASSET MANAGEMENT BUSINESS OF DAI-ICHI LIFE
HOLDINGS, INC.
ASSET MANAGEMENT BUSINESS
Asset Management One
49% (Voting rights)
30% Economic interest
• Head Quartered in Tokyo
• Geography – Japan
• In Oct 2016, DIAM Co., Ltd., integrated with Mizuho Asset Management Co., Ltd., Shinko Asset
Management Co., Ltd., and Asset Management Division of Mizuho Trust & Banking Co., Ltd., to
establish Asset Management One Co., Ltd.
• AUM as on 31st March 2021 - ¥57 trillion*
*Total assets under management (AUM) translated into yen using the exchange rate as of end March, 2021
Source: Financial Results, March 31, 2021; Dai-ichi Life Website
8
BOARD OF DIRECTORS-TRUSTEE COMPANY
Mr. K. Madhava Kumar (Independent Director)
Former Executive Director of Educhannel, Mumbai.
Previously worked as Chief General Manager, Sales & Marketing in UTI Asset Management Company Limited.
Mr. A.P. Kurian (Independent Director)
He has been Executive Chairman of AMFI. He has also been on the board of Geojit Financial Services Ltd and JP Morgan Asset
Management India Pvt. Ltd., and held several positions with Unit Trust of India.
Mrs. Padmini Gopinath (Independent Director)
In a civil service career spanning over 42 years, she has handled variety of assignments. She was Joint Secretary in the Union Public
Service Commission in charge of Civil Service Entrance Examinations and Interviews.
Mr. Ramesh S Singh (Independent Director)
He was the Executive Director at Dena Bank, Mumbai from January 2016 to January 2019. Prior to that, he worked with Central Bank
of India in various capacities including General Manager where he was inter alia responsible for International Business, Investments &
Treasury at Head Office, Mumbai and Business Development of Bhopal Zone.
9
BOARD OF DIRECTORS-ASSET MANAGEMENT COMPANY
Mr. Rajkiran Rai G.- Associate Director & Chairman
He is the current Managing Director and CEO of Union Bank of India. In his earlier stints he has worked in senior roles with Central Bank of India and Oriental
Bank of Commerce. He has also served on the board of Canara HSBC Oriental Bank of Commerce Life Insurance Co. Ltd.
Mr. Yasuhiro Hidaka - Associate Director
He has held several positions in Dai-ichi Life Insurance Company, Ltd., Japan since 2017. Presently he is on deputation to Star Union Dai-ichi Life Insurance
Company Ltd. He has been engaged in credit risk –related functions for more than 20 years.
Mr. Gopal Singh Gusain - Associate Director
He is the Executive Director of Union Bank of India. Holds diploma in Treasury, Investment and Risk Management. A career banker with Punjab National Bank,
he has worked across Credit and Risk management functions.
Mr. Anil Bafna - Independent Director
A practicing Chartered Accountant, is a Senior Partner of A. Bafna & Co., Chartered Accountants. He has discharged duties as a member of the Committee on
Financial Markets & Investment Protection of Institute of Chartered Accountants of India and even as a National Expert of United Nation Industrial Development
Organisation (UNIDO), Vienna, Austria.
Mr. Animesh Chauhan - Independent Director
He was the MD & CEO of Oriental Bank of Commerce for the period Dec 2014 to June 2017 and has more than three decades of rich banking experience. He
has also served on the Board of Canara HSBC Oriental Bank of Commerce Life Insurance Co. Ltd, India Infrastructure Finance Company Limited, Indian
Institute of Banking & Finance and member of Indian Bank Association and National Institute of Banking Studies and Corporate Management.
Mrs. Alice Vaidyan (Independent Director)
She was the Chairman and Managing Director of General Insurance Corporation of India for the period January 2016 to July 2019. She has also held other
positions such as General Manager, Deputy General Manager in General Insurance Corporation of India from August 2008 to January 2016.
Mr. Raghu Palat (Independent Director)
He is the Managing Director of Cortlandt Rand Consultancy Private Limited. He is currently also a director on the Board of Cheque Mate Infotech Private Limited
and Pritish Nandy Communcations Limited and a Dean at the Institute of Banking and Business Communication. He was the Chief Financial Officer of Warren
Industrial Ltd. For the period 1978 to 1981. He has also held senior positions in American Express Bank and Bank Internasional Indonesia. He was a Trustee in
BOI AXA Trustee Services Private Limited for over 10 years.
10MANAGEMENT TEAM
G Pradeepkumar, B. TECH, PGDM (IIM Ahmedabad) is
Saurabh Jain, MBA, B.Com, is the Chief Marketing
the Chief Executive Officer (CEO) of Union AMC with an
Officer of Union AMC and has more than 20 years of
overall experience of more than 29 years in Investment
experience in Sales and Marketing. He has previously
Funds business in India and abroad. In the past he has
worked in different position in Sales & Marketing division
worked in varied roles with IDFC Investment Advisors,
of IDFC Investment Advisors Ltd, Standard Chartered
UTI Asset Management Co. Pvt. Ltd., and UTI
AMC, and Birla Sunlife Distribution.
International Limited.
Vinay Paharia, B. Com, M.M.S. is the CIO of Union
AMC and has overall 19 years of experience in Fund Parijat Agrawal, B.E. (Electronics & Communications),
Management and Equities. In the past he has worked as PGDM (IIM - Bangalore) is Head - Fixed Income in
Fund Manager (Equity) with Invesco AMC (India) Pvt. Union AMC and has more than 25 years of experience
Ltd. Prior to this he has worked as Equity Research in Funds Management. Prior to this he has worked with
Analyst with DBS Cholamandalam AMC, K R Choksey SBI Mutual Fund, State Bank of Mauritius Limited, and
Shares and Securities Pvt Ltd and First Global SUN F&C AMC in various roles related to fixed income.
Stockbroking Pvt Ltd.
Padmaja Shirke, B.Com., CA, General L.L.B is Head –
Compliance, Legal & Risk Management in Union AMC Mr. Joseph Idichandy, M.com (Finance) is Head -
with overall 21 years of experience in Management Customer Service in Union AMC with more than 28
Consultancy and Mutual Fund Industry. She has worked years of experience in Customer Service. His prior stints
with Edelweiss Asset Management Limited, ABN AMRO were with Bigshare Services Pvt. Ltd, Matrix Asset
Asset Management (India) Private Limited and Management Company Pvt. Ltd and UTI Technology
Haribhakti & Co., Chartered Accountants in related Services Limited in various related roles.
roles.
Rajkamal Tiwari, CA, MBA (ICFAI), LLB and B.Com is
Ms. Jyotsna Korgaonkar, CA, is Head – Operations with
Chief Financial Officer of Union AMC and has over 15
Union AMC. She has more than 15 years of experience
years of experience in Finance. Prior to this he has
in Operations. Prior to this she has worked in operations
worked in finance and audit division of Principal PNB
role at different levels with HSBC Asset
Asset Management Co. Private Limited, Price
Management Company (I) Pvt. Ltd.
Waterhouse and A. F. Ferguson & Co
11INVESTMENT TEAM-EQUITY
Vinay Paharia, B. Com, M.M.S. is the CIO of Union AMC and has overall 19 years of experience in Fund
Management and Equities. In the past he has worked as Fund Manager (Equity) with Invesco AMC (India) Pvt.
Ltd. Prior to this, he has worked as Equity Research Analyst with DBS Cholamandalam AMC, K R Choksey
Shares and Securities Pvt Ltd and First Global Stockbroking Pvt Ltd.
Mr. Hardick Bora, CFA, Bachelor in Banking and Insurance is Co-Fund Manager at Union AMC. He has more
than 13 years of experience in the financial services sector. His prior stints in Research roles involves names
like Motilal Oswal Securities Ltd., Dolat Capital Markets Pvt. Ltd., Khandwala Securities Ltd., Yen Management
Consultants Pvt. Ltd. and 3 Global Services Pvt. Ltd.
Mr. Sanjay Bembalkar, Co-Fund Manager – Equity at Union Asset Management Company Private Limited.
Mr. Bembalkar is a CFA® charter holder with the CFA Institute, USA, a Chartered Accountant from the Institute
of Chartered Accountants of India (ICAI) and M.Sc. (Accounting and Finance) from 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.
Mr. Vishal Thakker, Dealer - Equity at Union AMC is a Master of Finance Management. In his Professional
carrier of more than 10 years he has worked with Elara Capital as Sales Trader and with Emkay Shares &
Stock Broking as Dealer.
Mr. Hiten Bhadra, Dealer – Equity at Union AMC is MMS, M.com with around 8.5 years’ experience in
Financial markets.
12INVESTMENT TEAM-FIXED INCOME
Mr. Devesh Thacker, MBA, B.Com is Fund Manager – Fixed Income
Parijat Agrawal, B.E. (Electronics & Communications), PGDM (IIM -
with Union AMC. He has overall experience of 21 years in Fund
Bangalore) is Head - Fixed Income in Union AMC and has more than
Management and Banking Industry. In the past he has worked with
25 years of experience in Funds Management. Prior to this he has
Sahara Asset Management Co. Pvt.Ltd., ICICI Bank Ltd, Dolat
worked with SBI Mutual Fund, State Bank of Mauritius Limited, and
Capital Markets Ltd., Orbis Securities (India Bulls), and ASK
SUN F&C AMC in various roles related to fixed income.
Financial Services ltd.
Mr. Anindya Sarkar is the Fund Manager - Fixed Income at Union
AMC. He is a BE Civil, MBA (Finance), MBA (Risk & Insurance) and
FRM with an overall experience of over 18 years in the Financial
Mr. Tarun Singh is a B.Sc. with professional career of more than 26
Service Sector. In his earlier assignments he was associated
years. In his earlier roles, he has worked with SBI Funds
with Union Asset Management Company Private Limited as Vice
Management Pvt. Ltd. as Fixed Income – Dealer, Prebon Yamane
President - Risk Management, ICAP India Pvt. Ltd as Dealer - Fixed
India Ltd. and Enron India Pvt. Ltd.
Income and Sarcon Blockbuild Ltd, Navigators Inc. and School of
Risk Management and Actuarial Science, St. John's University, in
various capacities.
13PRODUCT OFFERING
SR.
PRESENCE OF UNION MF SCHEME CATEGORY DATE OF INCEPTION MANAGED/CO-MANAGED BY
NO
Union Flexi Cap Fund (Formerly Union
1 Equity Scheme-Flexi Cap Fund 10-Jun-11 Vinay Paharia & Hardick Bora
Multi Cap Fund)**
2 Union Focused Fund Equity Scheme-Focused Fund 05-Aug-19 Vinay Paharia & Hardick Bora
3 Union Midcap Fund Equity Scheme-Midcap Fund 23-Mar-20 Vinay Paharia & Hardick Bora
4 Union Large & Midcap Fund Equity Scheme-Large & Midcap Fund 06-Dec-19 Vinay Paharia & Hardick Bora
5 Union Long Term Equity Fund Equity Scheme-ELSS 23-Dec-11 Vinay Paharia & Sanjay Bembalkar
6 Union Small Cap Fund Equity Scheme-Small cap Fund 10-Jun-14 Vinay Paharia & Hardick Bora
7 Union Value Discovery Fund Equity Scheme – Value Fund 05-Dec-18 Vinay Paharia & Sanjay Bembalkar
8 Union Largecap Fund Equity Scheme-Large Cap Fund 11-May-17 Vinay Paharia & Sanjay Bembalkar
9 Union Medium Duration Fund Debt Scheme – Medium Duration Fund 14-Sept-20 Parijat Agrawal & Anindya Sarkar
10 Union Corporate Bond Fund Debt Scheme-Corporate Bond Fund 25-May-18 Parijat Agrawal & Anindya Sarkar
11 Union Dynamic Bond Fund Debt Scheme-Dynamic Bond Fund 13-Feb-12 Parijat Agrawal & Devesh Thacker
12 Union Liquid Fund Debt Scheme-Liquid Fund 15-Jun-11 Parijat Agrawal & Devesh Thacker
13 Union Overnight Fund Debt Scheme-Overnight Fund 27-Mar-19 Tarun Singh & Devesh Thacker
Hybrid Scheme-Dynamic Asset Allocation or Balanced Vinay Paharia, Parijat Agrawal & Hardick
14 Union Balanced Advantage Fund 29-Dec-17
Advantage Bora
Vinay Paharia, Parijat Agrawal & Hardick
15 Union Equity Savings Fund Hybrid Scheme-Equity Savings 09-Aug-18
Bora
16 Union Arbitrage Fund Hybrid Scheme-Arbitrage Fund 20-Feb-19 Vishal Thakker & Devesh Thacker
Vinay Paharia, Parijat Agrawal & Hardick
17 Union Hybrid Equity Fund Hybrid Scheme-Aggressive Hybrid Fund 20-Dec-20
Bora
Mr. Hardick Bora was a Co-Fund Manager of Union Largecap Fund, Union Long Term Equity Fund and Union Value Discovery Fund till June 06, 2021 and Mr. Sanjay Bembalkar has been
appointed as Co-Fund Manager of the said schemes w.e.f June 07, 2021 in place of Mr. Hardick Bora.
Also, Mr. Parijat Agrawal has been appointed as Co-Fund Manager of Union Liquid Fund with effect from June 18, 2021.
14PRODUCT POSITIONING-EQUITY SCHEME CATEGORIES
Small Cap Fund
Probability of Returns (Lower ↔ Higher)
Midcap Fund
Focused Fund
Value Fund
Flexi Cap Fund
ELSS
Large & Midcap Fund
Large Cap Fund
Probability of Risk (Lower ↔ Higher)
Note: The risk and return spectrum shown above is for broadly explaining risk-return spectrum of Equity scheme categories. The actual risk return of schemes of Equity category
above may or may not be in line with the risk-return curve shown above.
15PRODUCT POSITIONING-DEBT SCHEME CATEGORIES
Dynamic Bond Fund
Probability of Returns (Lower ↔ Higher)
Medium Duration Fund
Corporate Bond Fund
Liquid Fund
Overnight Fund
Probability of Risk (Lower ↔ Higher)
Note: The risk and return spectrum shown above is for broadly explaining risk-return spectrum of Debt scheme categories. The actual risk return of schemes of Debt category
above may or may not be in line with the risk-return curve shown above.
16PRODUCT POSITIONING-HYBRID SCHEME CATEGORIES
Probability of Returns (Lower ↔ Higher)
Aggressive Hybrid Fund
Dynamic Asset Allocation or Balanced Advantage Fund
Equity Savings Fund
Arbitrage Fund
Probability of Risk (Lower ↔ Higher)
Note: The risk and return spectrum shown above is for broadly explaining risk-return spectrum of Hybrid scheme categories. The actual risk return of schemes of Hybrid category
above may or may not be in line with the risk-return curve shown above.
17EQUITY INVESTMENT
PHILOSOPHY AND PROCESS
18EQUITY INVESTMENT PHILOSOPHY
Stock Selection - Belief in Fundamental Analysis
Our core investment premise is that stock prices track intrinsic values over time.
Hence our focus is on
a) understand the fair value of the asset
b) estimate the growth in fair value, and
c) identify margin of safety in purchase price
Portfolio Construction - Being True To Mandate
a) The fund’s investment objective is supreme.
b) Portfolio construction guidelines help us achieve this objective.
19EQUITY INVESTMENT PROCESS
Investment Process
Stock Selection Portfolio Construction
Investment Universe
Fund Mandate
(Stocks with a market capitalization of more than a defined threshold)
Business, Management & Valuation (BMV)
Filters Portfolio Construction Factors
Stock Selection
Fund House Universe
Sector Allocation
Stock Segmentation
Capitalization
Asset Allocation
Growth Bargain
Concentration
20EXIT DISCIPLINE
We sell stocks for any one of the following 3 reasons:
- Original investment rationale is substantially weakened,
- Valuation re-rating, resulting in meaningful reduction in expected returns in the medium term
- We find an alternative idea with better risk-reward payoff.
If an idea is sold purely for Valuation reasons, we do not remove it from Fund House Universe.
Conversely, if we sell due to deterioration in Business or Management Quality, we remove the
idea from Fund House Universe.
21FIXED INCOME INVESTMENT
PHILOSOPHY AND PROCESS
22INVESTMENT PHILOSOPHY
Emphasis on managing credit risk by careful selection of securities
Creating portfolios which are true to mandate
23INVESTMENT PROCESS
Investment Process
Security Selection Portfolio Construction
Issuer Universe Fund Mandate
Credit
Research Domestic
Global Macro
Macro
Factors
Qualitative Quantitative
Analysis Analysis Duration
Fund House Fixed Income
Universe Risk
24EXIT DISCIPLINE
We may remove any company from fund house fixed income universe for the following
reasons :
Deteriorating industry, business or
Management quality concerns
financial risk profile
Default by the company on any debt
Likelihood of rating downgrade
instrument
25PRODUCT LABELLING
Scheme Name This product is suitable for investors who are seeking* Riskometer
Union Flexi Cap Fund (Formerly Union Multi Cap Fund)**
• Long Term Capital Appreciation
(Flexi Cap Fund - An open-ended dynamic equity scheme
• Investment predominantly in equity and equity related
investing across large cap, mid cap, small cap stocks)
portfolio
(Face Value ₹10/- per unit)
Union Small Cap Fund
• Long Term Capital Appreciation
(Small Cap Fund - An Open Ended Equity Scheme
• Investment predominantly in equity and equity related
predominantly investing in Small Cap stocks)
portfolio of small cap companies
(Face Value ₹10/- per unit)
Union Long Term Equity Fund • Long Term Capital Appreciation along with Tax savings u/s
(An open ended equity linked saving scheme with a statutory 80C of Income Tax Act.
lock in of 3 years and tax benefit) • Investment predominantly in equity and equity related
(Face Value ₹10/- per unit) portfolio
Union Largecap Fund
• Long Term Capital Appreciation
(Large Cap Fund - An open ended equity scheme
• Investment predominantly in a portfolio of select equity and
predominantly investing in large cap stocks)
equity linked securities of large cap companies
(Face Value ₹10/- per unit)
Union Value Discovery Fund
• Long Term Capital Appreciation
(An Open-ended equity scheme following a value investment
• Investment predominantly in a portfolio of equity and equity
strategy)
related securities of value companies
(Face Value ₹10/- per unit)
Union Large & Midcap Fund
• Capital appreciation over long term
(Large & Mid Cap Fund - An open ended equity scheme
• Investing predominantly in equities and equity related
investing in both large cap and mid cap stocks)
instruments of large cap and mid cap companies
(Face Value ₹10/- per unit)
Union Focused Fund • Long term capital appreciation
(An open ended equity scheme investing in maximum 30 • Investment in equity and equity related securities including
stocks across market caps (i.e. Multi Cap)) equity derivatives upto a maximum of 30 stocks across
(Face Value ₹10/- per unit) market capitalisation
Union Midcap Fund
• Capital appreciation over long term
(Mid Cap Fund - An open-ended equity scheme
• Investing predominantly in equities and equity related
predominantly investing in mid cap stocks)
securities of midcap companies
(Face Value ₹10/- per unit)
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
26PRODUCT LABELLING
Scheme Name This product is suitable for investors who are seeking* Riskometer
Union Hybrid Equity Fund
• Long Term Capital Growth and Income
(An open-ended hybrid scheme investing
• Investments predominantly in equity and equity related
predominantly in equity and equity related
instruments. The scheme will also invest in debt &
instruments)
money market instruments.
(Face Value ₹10/- per unit)
• Long Term Capital Appreciation
Union Balanced Advantage Fund
• Investment predominantly in a portfolio of equity and
(An Open-ended Dynamic Asset Allocation Fund)
equity linked securities and the rest in debt and money
(Face Value ₹10/- per unit)
market instruments.
Union Equity Savings Fund
• Long Term Capital Appreciation
(An Open Ended Scheme investing in Equity,
• Investment predominantly in a portfolio of equity and
Arbitrage and Debt)
equity related securities
(Face Value ₹10/- per unit)
Union Arbitrage Fund • Income over short term from arbitrage opportunities in
(An Open Ended Scheme investing in Arbitrage equity market.
Opportunities) • Investment in arbitrage opportunities in the cash &
(Face Value ₹10/- per unit) derivatives segment of the equity market
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
27PRODUCT LABELLING
Scheme Name This product is suitable for investors who are seeking* Riskometer
• Reasonable returns over Short Term commensurate with
Union Liquid Fund
low risk and high level of liquidity.
(An Open-Ended Liquid Scheme)
• Investment in Money market and Debt securities with
(Face Value ₹1000/- per unit)
maturity of upto 91 days
Union Overnight Fund
• Income over short term
(An open ended debt scheme investing in overnight
• Investment in Debt and Money Market instruments with
securities)
overnight maturity
(Face Value ₹1000/- per unit)
Union Dynamic Bond Fund • Regular Income over Medium to Long Term
(An open ended dynamic debt scheme investing • Investment in Debt and Money Market Securities with
across duration) flexible maturity profile of securities depending on the
(Face Value ₹10/- per unit) prevailing market condition
Union Corporate Bond Fund
• Regular income over Medium to Long term
(An open ended debt scheme predominantly investing
• Income by investing in fixed income securities of varying
in AA+ and above rated corporate bonds)
maturities and credit
(Face Value ₹10/- per unit)
Union Medium Duration Fund
(An open ended medium term debt scheme investing
in instruments such that the Macaulay duration of the • Income/Capital Appreciation over medium term
portfolio is between 3 to 4 years) • Investment predominantly in debt and money market
(Please refer to the page no. 38 of the SID on which instruments with portfolio Macaulay Duration of 3-4 years
the concept of Macaulay Duration has been explained)
(Face Value ₹10/- per unit)
*Investors should consult their financial advisers if in doubt about whether the product is suitable for them.
28DISCLAIMER
**Pursuant to Notice Cum Addendum dated December 18, 2020 Union Multi Cap Fund has been converted in to Union Flexi Cap Fund
with effect from January 28, 2021..
MUTUAL FUND INVESTMENTS ARE SUBJECT TO MARKET RISKS, READ ALL SCHEME RELATED DOCUMENTS CAREFULLY.
Disclaimer: The views, facts and figures in this document are as of 30th June, 2021 unless stated otherwise, and could change without
any notice.
The information in this document alone is not sufficient and should not be used for the development or implementation of an investment
strategy. Neither the Sponsors/the AMC/ the Trustee Company/ their associates/ any person connected with it, accepts any liability arising
from the use of this information. While utmost care has been exercised while preparing this document, the Sponsors/ the AMC/ the
Trustee Company/ their associates/ any person connected with it, do not warrant the completeness or accuracy of the information and
disclaim all liabilities, losses and damages arising out of the use of this information. The recipients of this material should rely on their
investigations and take their own professional advice.
Statutory Details: Constitution: Union Mutual Fund has been set up as a Trust under the Indian Trusts Act, 1882; Sponsors: Union
Bank of India and Dai-ichi Life Holdings, Inc.; Trustee: Union Trustee Company Private Limited, [Corporate Identity Number (CIN):
U65923MH2009PTC198198], a company incorporated under the Companies Act, 1956 with a limited liability; Investment Manager:
Union Asset Management Company Private Limited, [Corporate Identity Number (CIN): U65923MH2009PTC198201], a company
incorporated under the Companies Act, 1956 with a limited liability. Registered Office: Unit 503, 5th Floor, Leela Business Park, Andheri
Kurla Road, Andheri (East), Mumbai - 400059. Toll Free No. 18002002268/18005722268 • Non Toll Free. 022-67483333 • Fax No: 022-
67483401 • Website: www.unionmf.com • Email: investorcare@unionmf.com
Copy of all Scheme related documents along with the application form can be obtained from any of our AMC offices / Customer Service
Centres/ distributors as well as from our website www.unionmf.com.
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