Union Mutual Fund was initially co-sponsored by Union Bank of India and KBC Participations Renta, a 100% KBC Asset Management NV subsidiary. However, in September 2016, Union Bank of India (UBI) acquired all the shares held by KBC Participations Renta in Union 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 AMC. As a result, Union Bank of India and Dai-ichi Life Holdings, Inc. became Co-sponsors of Union Mutual Fund.
Key Information About Union Mutual Fund
How to Invest in the Union Mutual Fund
Investing in the best Union Mutual Funds can be a complex process. To make it easier, here is a step-by-step guide:
1. Choose Your Mutual Fund Type
According to your risk tolerance (low, mid, or high) and financial goals, choose your mutual types, such as equity, debt, hybrid, index, and sector funds.
2. Select a Mutual Fund Scheme
After carefully analysing the historical returns, expense ratio, reviews, and ratings of different schemes, choose your preferred Union Mutual Fund.
3. Login or Open a Demat Account
Log in to your Stack Wealth account. If you do not have an account, you can register with your mobile number and create a new one immediately.
4. Complete KYC (Know Your Customer) Requirements
The next step involves providing personal information and verifying identity. You must upload a government-issued ID such as PAN, Aadhar and proof of address. Follow the instructions in the app to complete this step smoothly.
5. Select Investment Mode (SIP or lumpsum)
If you prefer regular, disciplined investing, you can set-up a systematic investment plan (SIP), which is periodic (monthly, quarterly, etc.). Alternatively, if you have a large amount to invest, you can make a lump-sum investment. Select the investment period of your choice.
6. Confirm and Track Your Investment
After setting up your investment, sit back and watch your money grow. The Stack Wealth app will provide regular updates and reports on your portfolio’s performance. You can also adjust your investments or withdraw funds as needed.
List of Best Union Mutual Funds in India
Here is the list of some of the best Union Mutual Funds in India:
* All data as of 31 Jan 2025
Detailed Overview of Union Mutual Fund Schemes
Now, let’s discuss these 10 Union Mutual Fund schemes in detail:
1. Union Focused Fund - Direct Plan-Growth
Union Focused Fund is an equity scheme (open-ended) that invests in up to 30 stocks across market caps (i.e. Multi Cap)).
- Fund Performance: The fund's annualized returns for the past three and five years have been around 11.26% and 17.34%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹13,771.
- Minimum Investment Amount: The minimum lump sum for the Union Focused Fund is ₹1000; for Min Add Lumpsum, it is ₹1000; for SIP, it is ₹100 (for daily frequency) and ₹500 (for weekly, fortnightly, and monthly frequency).
2. Union Flexi Cap Fund - Direct Plan-Growth
Union Flexi Cap Fund is an open-ended dynamic equity scheme that invests chiefly in equity and equity-related instruments (large, mid, and small-cap stocks).
- Fund Performance: The fund's annualized returns for the past three and five years have been around 13.73% and 18.93%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹14,711.
- Minimum Investment Amount: The minimum lump sum for the Union Flexi Cap Fund is ₹1000; for Min Add Lumpsum, it is ₹1,000; for SIP, it is ₹100 (for daily frequency) and ₹500 (for weekly, fortnightly, and monthly frequency).
3. Union Corporate Bond Fund - Direct Plan-Growth
Union Corporate Bond Fund is an open-ended debt scheme that predominantly invests in AA+ and above-rated corporate bonds. Its investment carries a relatively high interest rate risk and moderate credit risk.
- Fund Performance: The fund's annualized returns for the past three and five years have been around 6.06% and 6.33%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹11,930.
- Minimum Investment Amount: The minimum lump sum for the Union Corporate Bond Fund is ₹1000; for Min Add Lumpsum, it is ₹1,000; for SIP, it is ₹100 (for daily frequency) and ₹500 (for weekly, fortnightly, and monthly frequency).
4. Union Arbitrage Fund - Direct Plan-Growth
Union Arbitrage Fund is an open-ended hybrid scheme predominately investing in arbitrage opportunities in the equity market.
- Fund Performance: The fund's annualized returns for the past three and five years have been around 6.80% and 5.82%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹12,183.
- Minimum Investment Amount: The minimum lump sum for the Union Arbitrage Fund is ₹1000; for Min Add Lumpsum, it is ₹1,000; for SIP, it is ₹100 (for daily frequency) and ₹500 (for weekly, fortnightly, and monthly frequency).
5. Union Overnight Fund - Direct Plan-Growth
Union Overnight Fund is an open-ended debt scheme that invests in overnight securities. Its interest rate and credit risk are relatively low.
- Fund Performance: The fund's annualized returns for the past three and five years have been around 6.11% and 4.94%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹11,949.
- Minimum Investment Amount: The minimum lump sum for the Union Overnight Fund is ₹5000; for Min Add Lumpsum, it is ₹1,000; for SIP, it is ₹500 (for weekly, fortnightly, and monthly frequency).
6. Union Largecap Fund - Direct Plan-Growth
Union Largecap Fund is an open-ended equity scheme that invests majorly in large-cap stocks.
- Fund Performance: The fund's annualized returns for the past three and five years have been around 11.16% and 15.31%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹13,734.
- Minimum Investment Amount: The minimum lump sum for the Union Largecap Fund is ₹1000; for Min Add Lumpsum, it is ₹1,000; for SIP, it is ₹100 (for daily frequency) and ₹500 (for weekly, fortnightly, and monthly frequency).
7. Union Equity Savings Fund - Direct Plan-Growth
Union Equity Savings Fund is an open-ended scheme that invests in equity, arbitrage and debt.
- Fund Performance: The fund's annualized returns for the past three and five years have been around 7.50% and 8.60%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹12,422.
- Minimum Investment Amount: The minimum lump sum for the Union Equity Savings Fund is ₹1000; for Min Add Lumpsum, it is ₹1,000; for SIP, it is ₹100 (for daily frequency) and ₹500 (for weekly, fortnightly, and monthly frequency).
8. Union Value Fund - Direct Plan-Growth
Union Value Fund, formerly Union Value Discovery Fund, is an open-ended equity scheme which follows a value investment strategy.
- Fund Performance: The fund's annualized returns for the past three and five years have been around 16.75% and 20.41%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹15,912.
- Minimum Investment Amount: The minimum lump sum for the Union Value Fund is ₹1000; for Min Add Lumpsum, it is ₹1,000; for SIP, it is ₹100 (for daily frequency) and ₹500 (for weekly, fortnightly, and monthly frequency).
9. Union Liquid Fund - Direct Plan-Growth
Union Liquid Fund is an open-ended liquid scheme with a relatively low interest rate and moderate credit risk.
- Fund Performance: The fund's annualized returns for the past three and five years have been around 6.61% and 5.49%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹12,118.
- Minimum Investment Amount: The minimum lump sum for the Union Liquid Fund is ₹5000; for Min Add Lumpsum, it is ₹1,000; for SIP, it is ₹500 (for weekly, fortnightly, and monthly frequency).
10. Union Balanced Advantage Fund - Direct Plan-Growth
Union Balanced Advantage Fund is a hybrid scheme that invests predominantly in equity and equity-linked securities, with the remainder allocated to debt and money market instruments.
- Fund Performance: The fund's annualized returns for the past three and five years have been around 9.89% and 12.53%, respectively. In three years, the current value of a Standard Investment of ₹10,000 will become around ₹13,269.
- Minimum Investment Amount: The minimum lump sum for the Union Balanced Advantage Fund is ₹1000; for Min Add Lumpsum, it is ₹1,000; for SIP, it is ₹100 (for daily frequency) and ₹500 (for weekly, fortnightly, and monthly frequency).
Top Fund Managers
Below is the list of people who have made Union Mutual Fund Investment a standout choice in a highly competitive market.
1. Mr. Harshad Patwardhan
Mr. Harshad Patwardhan is the CIO (Chief Investment Officer) at Union AMC. He has over 30 years of experience in investment research and portfolio management in Indian equities, on both the sell and buy sides. Harshad has also worked as an equity research analyst with several foreign institutional broking firms. Before joining Union AMC, he held the positions of Chief Investment Officer at JPMorgan AMC, Edelweiss AMC, and Girik Wealth Advisors.
2. Mr. Parijat Agrawal
Mr. Parijat Agrawal is the Fixed-Income Head at Union Asset Management Company Private Limited. For over 27 years, he has worked with SBI Mutual Fund as head of fixed-income, State Bank of Mauritius Limited, where he managed the bank's overall Treasury function, and SUN F&C Asset Management as a Fund manager of fixed-income and Hybrid Funds.
3. Mr. Sanjay Bembalkar
Mr. Sanjay Bembalkar is the head of equity at Union Asset Management Company Private Limited. In his more than 16-year professional career, he has also worked as a fund manager and research analyst with Canara Robeco AMC and in various capacities with LIC Mutual Fund Asset Management Limited and Quantum Advisors Private Limited.
4. Mr. Devesh Thacker
Mr. Devesh Thacker is a fixed-income fund manager at Union Asset Management Company Private Limited. He has over 23 years of experience and has worked in various companies, including Sahara Asset Management Co. Pvt. Ltd., ICICI Bank Limited, Dolat Capital Markets Limited, Orbis Securities (India Bulls) Limited, and ASK Financial Services Ltd.
5. Mr. Gaurav Chopra
Mr. Gaurav Chopra is an equity fund manager at Union Asset Management Company Private Limited. He has over 8 years of experience as a Research Analyst in the financial market. Before joining Union AMC, he was associated with Centrum Portfolio Management Services-Centrum Broking Limited.
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