‘Union Innovation & Opportunities Fund’, an open-ended equity scheme categorized as sectoral/thematic. It aims for significant capital growth through investments in equity and equity-related securities of innovative companies. This unique approach focuses on businesses showcasing innovation across sectors, capturing growth potential through technological advancements and transformative changes.
The NFO will be open for subscription from August 16th, 2023 and will end on August 30th, 2023. Within five Business Days following the date of allotment, the Schemes will reopen for continuous sale and repurchase. Subscriptions can be made starting at Rs. 1000 and in multiples of Rs. 1/-. Both a Regular Plan and a Direct Plan are available.
About Union Mutual Fund
Union Mutual Fund, backed by Union Bank of India, has been a significant force in India’s asset management sector for over a decade. Their vision is to empower investors to achieve sustainable prosperity through responsible capital market investments.
Founded on December 30, 2009, the AMC leveraged Union Bank of India’s substantial client base to establish a robust asset management portfolio. Initially formed in partnership with Belgium’s KBC Asset Management NV, it was known as Union KBC Mutual Fund, with Union Bank holding the majority stake.
The collaboration with KBC ended in 2016, leading to Union Bank’s complete ownership. In 2017, Japan’s Dai-ichi Life acquired a 39.62% stake, further strengthening the company. While the AMC’s structure remained unchanged, Dai-ichi appointed a nominee to its Board of Directors.
Union Innovation & Opportunities Fund – NFO Detail
| Type of Offer | NFO (New Fund Offer) |
| Fund House | Union Mutual Fund |
| Name of the Fund | Union Innovation & Opportunities Fund |
| Type of Scheme | Open-ended |
| Category of Scheme | Equity |
| NFO Starts | 16-August-2023 |
| NFO Ends | 30-August-2023 |
| NFO Unit Price | Rs 10 per unit |
| Minimum Investment | Rs. 1000 |
| Plans | Regular, Direct |
| Options | Growth, IDCW |
| Entry Load | Not Applicable |
| Exit Load | 1% |
| Investment Manager | Union Asset Management Company Private Limited |
| Fund Manager | Mr.Sanjay Bembalkar and Mr.Hardick Bora |
Union Innovation & Opportunities Fund NFO – Scheme Objective
The Investment Objective of the Scheme is to achieve long term capital appreciation by investing predominantly in equity and equity related securities of Innovative Companies.
Union Innovation & Opportunities Fund NFO – Who Can Invest?
This product is suitable for investors who are seeking*:
- Long term capital appreciation.
- Investment predominantly in equity and equity related securities of Innovative Companies.
How Will the Scheme Allocate Its Asset
- 80-100% in Equity and Equity related Instruments of innovative companies.
- 0-20% in Equity and Equity related Instruments of other than above companies.
- 0-20% in Debt and Money Market Instruments.
- 0-10% in Units issued by REITs and InvITs.
Where Will the Scheme Invest?
The corpus of the Scheme will be invested in a portfolio of predominantly Equity and Equity Related Instruments of Innovative Companies. The Scheme shall also invest in Equity and Equity Related Instruments of other than above companies and further also in Debt and Money Market Instruments, units issued by REITs and InvITs and schemes of mutual funds. Further, pending deployment of funds of the Scheme in securities in terms of the investment objective, and for margin purposes, the AMC may park the funds of the Scheme in short term deposits of scheduled commercial banks, subject to the guidelines issued by SEBI from time to time. The securities/ instruments in which the Scheme shall invest include but are not limited to the following:
- Investment in Equity and Equity linked Instruments: Equity related securities include, but are not limited to:
i. Equity Warrants and Convertible Instruments.
ii. Fully Convertible debentures, Debentures, Partly Convertible Debentures, unlisted securities,
initial public offerings, private placements etc.
iii. Equity Derivatives. (Futures and Options)
iv. Any other securities / instruments as may be permitted by SEBI from time to time.
- Investment in Debt and Money Market Instruments:
1. Certificate of Deposit (CD)
2. Tri-party Repo in Government Securities
3. Commercial Paper (CP)
4. Reverse Repo
5. Treasury Bill (T-Bill)
6. Securities created and issued by the Central and State Governments
7. Non-convertible debentures and bonds
8. Floating rate debt instruments
9. Debt derivative instruments
Union Innovation & Opportunities Fund NFO – SID (Scheme Information Document)
Please click here to read the SID (Scheme Information Document) of this NFO scheme.
How to Invest?
Visit this page on the AMC website for further detail and investment.
Disclaimer: This post is just information about the scheme. It does not give any advice or recommendation. Mutual Fund investments are subject to market risk. Please read the offer document carefully before investing.
