Saturday, May 25, 2024

Union Asset Management Company Private Limited (Union AMC) announces the launch of Union Hybrid Equity Fund

Union AMC co-sponsored by Union Bank of India and Dai-ichi Life Holdings, Inc. of Japan announces the launch of Union Hybrid Equity Fund (“the Scheme”). It is an open-ended hybrid scheme investing predominantly in equity and equity related instruments.

The scheme will invest minimum 65% in equity and maximum 35% in debt*.The New Fund Offer (NFO) of the Scheme opens on 27thNovember 2020 and closes on 11thDecember 2020. The allotment would be on 18thDecember 2020 and it will re-open for continuous sale and repurchase on 28th December 2020.

The Scheme is benchmarked against CRISIL Hybrid 35+65 Aggressive Index (TRI)# and will be managed by Mr. Vinay Paharia, Mr. Parijat Agrawal and Mr. Hardick Bora. The minimum investment required is Rs 5,000 and in multiples of Re 1 thereafter.

Mr. G. Pradeepkumar, Chief Executive Officer (CEO), Union Asset Management Company Private Limited, said “Among other things, prudent asset allocation forms the bedrock of a successful investment outcome. Different asset classes do not generally move in tandem and hence taking exposure to Union Hybrid Equity Fund which inherently offers a combination of equity and debt can be a good choice for investors looking for a balanced approach to asset allocation. This scheme shall endeavour to maintain a judicious mix of equity and debt within the overall limits allowed for this category. All investment decisions in this scheme portfolio will be guided by our strong investment process”

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