Union Mutual Fund, the investment arm of Union Bank of India, has been a key player in India’s asset management sector for over a decade. Its mission is to provide investors with responsible investment opportunities, aiming for sustainable growth through capital markets. Established on December 30, 2009, the AMC leveraged Union Bank’s extensive client base to build a strong presence in the sector. Initially formed in collaboration with Belgium-based KBC Asset Management NV, the AMC was known as Union KBC Mutual Fund. Union Bank held the majority stake, while KBC owned 49%. This partnership ended in 2016 when KBC exited, and Union Bank purchased its shares, making Union Mutual Fund a wholly-owned subsidiary. In 2017, Dai-ichi Life, a leading financial services firm from Japan, acquired a 39.62% stake in Union Mutual Fund. Though the AMC’s structure remained unchanged, Dai-ichi appointed a nominee to the Board of Directors. Sponsors: Union Bank of India (UBI) is a major government-owned bank, which marked its 100th anniversary in 2019. Founded by Mahatma Gandhi on November 11, 1919, UBI was a significant financial institution even before Indian independence. It was nationalized in 1969, and by then, had 240 branches. Following nationalization, UBI expanded rapidly, acquiring several banks, including Belgaum Bank in 1975, Miraj State Bank in 1985, and Sikkim Bank in 1999. The bank also established an international presence, with branches in Abu Dhabi, Sydney, Antwerp, and Hong Kong. UBI now operates 4,300 branches and holds assets worth over Rs. 14,674.66 crore, employing more than 35,000 people. Dai-ichi Life, founded in 1902, is one of Japan’s top three insurance companies, with a presence in various financial services. The company’s total assets exceed $347 billion, and it holds substantial shares in several companies, including Tokyu Corporation and Union Mutual Fund.
Fund Name
Rating
1Y Return
3Y Return
Fund Size (in Cr)
Union Small Cap Fund Direct Growth
3
22.58%
20.22%
₹6298.05 Cr
Union Midcap Fund Direct Growth
3
27.13%
19.57%
₹1380.72 Cr
Union Value Fund Direct Growth
3
16.65%
18.09%
₹300.49 Cr
Union Large & Midcap Fund Direct Growth
3
19.94%
14.72%
₹847.32 Cr
Union ELSS Tax Saver Fund Direct Plan Growth Option
3
16.16%
14.61%
₹935.47 Cr
Union Flexi Cap Fund Direct Growth Option
3
16.36%
14.22%
₹1090.34 Cr
Union Focused Fund Direct Growth
3
16.38%
12.21%
₹423.34 Cr
Union Aggressive Hybrid Fund Direct Growth
2
14.86%
11.55%
₹636.88 Cr
Union Largecap Fund Direct Growth
3
12.32%
10.95%
₹438.15 Cr
Union Balanced Advantage Fund Direct Growth
3
10.79%
10.33%
₹1457.11 Cr
Union Equity Savings Fund Direct Growth
2
8.58%
7.51%
₹374.09 Cr
Union Arbitrage Fund Direct Growth
NA
8.13%
6.75%
₹233.48 Cr
Union Liquid Fund Direct Plan Growth Option
NA
7.45%
6.54%
₹4472.93 Cr
Union Money Market Fund Direct Growth
3
7.47%
6.43%
₹172.67 Cr
Union Overnight Fund Direct Growth
NA
6.73%
6.05%
₹210.03 Cr
Union Corporate Bond Fund Direct Growth
3
8.47%
6.00%
₹257.69 Cr
Union Medium Duration Fund Direct Growth
2
8.10%
5.58%
₹80.77 Cr
Union Dynamic Bond Fund Direct Growth Option
3
9.24%
5.50%
₹78.74 Cr
Union Active Momentum Fund Direct Growth
NA
-
-
-
Union Children's Fund Direct Growth
NA
20.14%
-
₹60.96 Cr
Mutual fund name
Union Mutual Fund
Asset Management Company Name
Union Asset Management Co. Pvt. Ltd
AMC Setup Date
23-Mar-2011
AMC Incorporation Date
30-Dec-2009
Sponsor Name
Dai-ichi Life Holdings, Inc., Union Bank of India
Trustee Organisation
Union Trustee Company Private Limited (formerly Union KBC Trustee Company Private Limited)
CIO
Mr. Harshad Patwardhan
MD & CEO
Mr. Madhukumar Nair
Compliance Officer
Ms. Richa Parasrampuria
To invest in union mutual funds Mutual Funds through the Lemonn App, you can follow these general steps:
Step 1 : Download the Lemonn App
If you haven't already, download the Lemonn App from the Google Play Store or Apple App Store.
Step 2 : Sign up / Log in
Sign up by providing your phone number and completing the basic registration process.
If you already have an account, simply log in.
Step 3 : Complete KYC
Before investing, ensure your KYC (Know Your Customer) verification is complete. Most mutual fund apps will guide you through this. You’ll need PAN, Aadhaar, and other necessary details.
Step 4 : Search for union mutual funds Mutual Funds
Once your KYC is done, search for the union mutual funds Mutual Fund schemes you're interested in by using the search bar.
Step 5 : Choose a Scheme
You will see a list of various funds under union mutual funds. Explore the options, check their performance, risk profile, and investment objectives.
Choose a scheme that aligns with your investment goals (e.g., equity, debt, hybrid funds).
Step 6 : Decide on the Investment Amount
You can either make a lump sum investment or set up a SIP (Systematic Investment Plan) to invest a fixed amount periodically.
Step 7 : Confirm the Investment
Enter the amount you wish to invest.
Review the details and confirm the payment method (Net Banking, UPI, etc.).
After making the payment, you will receive a confirmation of your investment.
Step 8 : Track Your Investment
You can track the performance of your union mutual funds Mutual Funds on the Lemonn App dashboard. It will show NAV, returns, and other key details.
If you need any assistance, the Lemonn App usually has customer support or chat options to help. Keep an eye on expenses like entry/exit loads and expense ratios to optimize returns!
Mr. Vinay Paharia
Mr. Vinay Paharia serves as the Chief Investment Officer at KBC Union Bank Mutual Fund, bringing over 16 years of expertise in the financial services sector. His career began as an Equity Research Analyst at First Global Stockbroking Pvt. Ltd., with similar roles following at K R Choksey Shares and Securities Pvt. Ltd. and DBS Cholamandalam AMC. Prior to joining Union Mutual Fund, he spent over 11 years at Invesco Asset Management (India) Pvt. Ltd., contributing significantly to the investment strategies there. Mr. Paharia holds an MMS in Finance from the Welingkar Institute of Management and is a CFA charterholder from the Institute of Chartered Financial Analysts of India. His experience and strategic insight have added great value to Union Bank KBC Mutual Fund's investment team, where he currently manages 9 schemes with a total AuM of Rs. 1,793 Crore. Notable funds he manages include the Union Small Cap Fund, Union Multi-Cap Fund, and Union Equity Savings Fund.
Mr. Parijat Agrawal
Mr. Parijat Agrawal, a PGBM graduate from IIM-B, is the Head of Fixed Income at Union KBC Mutual Funds, with over two decades of experience in financial markets. Known for his extensive expertise, Mr. Agrawal is a seasoned figure in the industry, often regarded as the go-to person for financial troubleshooting. Having been with Union Mutual Fund since its inception, he has dedicated the last 9 years to building and leading its Fixed Income department. Prior to this, he served as the Head of Fixed Income at SBI Mutual Fund and was also the Head of Treasury at State Bank of Mauritius. Currently, Mr. Agrawal oversees the management of 12 schemes with a cumulative AuM of Rs. 2,009 Crore at Union Mutual Fund. Some prominent funds under his management include the Union Equity Savings Fund, Union Balanced Advantage Fund, and Union Dynamic Bond Fund.
Mr. Anshul Mishra
Mr. Anshul Mishra is recognized as one of the most dynamic Fund Managers at Union Bank KBC Mutual Fund, with a track record of delivering high returns over his decade-long career. Prior to joining Union, he was a Fund Manager at IDBI Asset Management Ltd., focusing on Equity and Tax Saving Funds, and ING Mutual Fund, where he accumulated five years of experience. His career began as a Manager at IDBI Bank. Currently, Mr. Mishra manages nine schemes with an aggregate AuM of Rs. 1,031 Crore at Union KBC Mutual Fund. His portfolio includes some top-performing funds, such as the Union Large Cap Fund and Union Balanced Advantage Fund. Academically, he holds a CFA designation, an MBA, and a B.E. in Mechanical Engineering.
Mr. Anindya Sarkar
Mr. Anindya Sarkar is a seasoned Fund Manager with two decades of experience in the financial sector. He holds double MBAs, one in Finance from Savitribai Phule Pune University and the other in Risk Management from St. John’s University’s School of Risk Management. His wealth of experience has made him one of the most astute fund managers at Union Bank KBC Mutual Fund. He has been with Union Mutual Fund since its inception, initially joining as Vice President in Risk Management, where he served for over eight years before transitioning to Fund Manager. Prior to his tenure at Union Mutual Fund, Mr. Sarkar worked with various firms in both India and abroad. He began his career as a Broker at DVF Ltd and ICAP India Pvt. Ltd., and later worked as a Risk Manager at The Navigators Group, Inc. in New York. At Union Mutual Fund, Mr. Sarkar currently manages three funds, with a total AuM of Rs. 346 Crore.
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1.Should I invest in a Union Mutual fund scheme?
2.How to Start a Union Mutual Fund SIP online?
3.How to redeem Union Mutual funds Online?
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