About Union Mutual Fund
Union Mutual Fund was established on 30 December 2009 with the goal of being a reliable investment partner for investors and distributors. It operates as the investment arm of Union Bank and benefits from the bank’s extensive customer base.
Union Mutual Fund initially started as Union KBC Mutual Fund, a collaboration with KBC Asset Management NV, a Belgium-based AMC. Over time, it went through structural changes, and in 2017, it formed an alliance with Dai-ichi Life, a Japanese financial services company. Currently, the fund is sponsored by Union Bank of India and Dai-ichi Life Holdings.
As of March 2023, Union AMC manages a range of investment schemes across four categories: Equity, Debt, Hybrid, and Solution-Oriented funds. These schemes are available in both regular and direct plans, offering investors diverse options to achieve their financial goals.
Union Bank of India, a public sector bank headquartered in Mumbai, has a large customer base and an extensive branch network. Following its merger with Corporation Bank and Andhra Bank in April 2022, it became one of the largest PSU banks in India.
Dai-ichi Life Holdings, established in 1902 and listed on the Tokyo Stock Exchange, is a financial services holding company engaged in insurance and asset management. It operates its asset management business globally through Asset Management One Co. Ltd.
Union Mutual Fund is guided by three core values—Trust, Transparency, and Consistency of Performance. Its vision is to be a reliable and trusted investment partner, while its mission focuses on creating long-term wealth and improving the financial well-being of investors across different regions.
Key Information: Union Mutual Fund
The table below summarises the essential details about Union Mutual Fund, including its founding information, sponsors, leadership, and investment team.
Category
| Details
|
Founding Date
| 30 December 2009
|
AMC Incorporation Date
| 23 March 2011
|
Headquarters
| Mumbai
|
Sponsors
| Union Bank of India, Dai-ichi Life Holdings, Inc.
|
Trustee Organisation
| Union Trustee Company Private Limited
|
Total AUM (Feb 2025)
| ₹18,874.86 crore
|
Key Directors
| Ms. A. Manimekhalai, Mr. Yusuke Sato, Ms. Priti Rao, Mrs. Alice Vaidyan, Mr. Raghu Palat, Mr. Anil Bafna, Mr. V. Ramachandra
|
CEO
| Mr. Madhukumar Nair
|
Chief Investment Officer
| Mr. Harshad Patwardhan
|
Head - Fixed Income
| Mr. Parijat Agrawal
|
Head - Equity
| Mr. Sanjay Bembalkar
|
Fund Managers (Equity)
| Mr. Gaurav Chopra, Mr. Vinod Malviya, Mr. Pratik Dharmshi
|
Fund Managers (Fixed Income)
| Mr. Devesh Thacker, Mr. Anindya Sarkar
|
Chief Risk Officer
| Mr. Maulik Bhansali
|
Head - Marketing
| Mr. Saurabh Jain
|
Head - Compliance
| Ms. Richa Parasrampuria
|
Head - Institutional Sales
| Mr. Nishant Dharavat
|
Head - IT
| Mr. Yunus Sagari
|
Head - Products
| Mr. Ashay Vaidya
|
How To Invest in the Union Mutual Fund via Bajaj Broking?
Investing in Union Mutual Fund through Bajaj Broking is a straightforward and digital process. Follow these steps to get started:
Log in to Your Bajaj Broking Account
Enter your registered mobile number and verify the OTP.
Enter your MPIN to proceed.
If you do not have an account, you can open a Demat account online by providing the necessary documents.
Choose the Right Mutual Fund
Search for the fund that matches your financial goals and risk profile.
Analyse the fund’s past performance, tax implications, and sector allocations.
Use the investment calculator to estimate potential returns.
Review the fund’s risk level and compare it with your risk appetite.
Check ratings provided by trusted agencies.
Make Your Investment
Open the Bajaj Broking app and go to the Mutual Funds section.
Decide whether to invest a lump sum or start a SIP (Systematic Investment Plan).
Enter the investment amount and select the payment method (UPI or net banking).
For SIP, set up a payment mandate for seamless future instalments.
By following these steps, you can start investing in Union Mutual Fund through Bajaj Broking efficiently.
Documents Required to Invest in Union Mutual Fund
Before investing, completing the KYC process is essential. Below are the documents required:
PAN Card – Mandatory for identification.
Personal Details – Full name, registered mobile number, and email address.
Address Proof – Aadhaar Card (front and back) is recommended.
Bank Account Details – A cancelled cheque may be required.
Nominee Details – To designate a beneficiary for your investment.
FATCA Declaration – Required for tax compliance.
KYC verification is completed within 48-72 business hours, after which you can begin your investment journey.
List of Union Mutual Fund to Invest In India
Fund Name
| Category
| NAV (as of 21 Mar 2025)
| 1Y Return
| 5Y Return
| Benchmark
|
Union Flexi Cap Fund
| Equity
| ₹52.08
| 13.94%
| 13.04%
| BSE 500 TRI
|
Union Active Momentum Fund
| Equity
| ₹8.21
| -49.53%
| -75.61%
| Nifty 500 TRI
|
Union Business Cycle Fund
| Equity
| ₹10.41
| -1.53%
| -2.64%
| Nifty 500 TRI
|
Union Focused Fund
| Equity
| ₹24.65
| 17.40%
| 16.20%
| BSE 500 TRI
|
Union Largecap Fund
| Equity
| ₹23.35
| 13.30%
| 10.57%
| S&P BSE 100 TRI
|
Union Innovation and Opportunities Fund
| Equity
| ₹12.94
| 10.85%
| 13.03%
| Nifty 500 TRI
|
Union Large and Midcap Fund
| Equity
| ₹24.84
| 18.68%
| 17.33%
| Nifty LargeMidcap 250 TRI
|
Union Multicap Fund
| Equity
| ₹14.79
| 14.67%
| 15.67%
| NIFTY 500 Multicap 50:25:25 TRI
|
Union Midcap Fund
| Equity
| ₹45.20
| 35.70%
| 33.49%
| BSE Midcap 150 TRI
|
Union Small Cap Fund
| Equity
| ₹47.68
| 13.31%
| 14.60%
| BSE 250 Smallcap TRI
|
Union ELSS Tax Saver Fund
| Equity
| ₹64.21
| 13.94%
| 13.29%
| BSE 500 TRI
|
Union Value Fund
| Equity
| ₹27.21
| 15.15%
| 16.07%
| BSE 500 TRI
|
Union Corporate Bond Fund
| Debt
| ₹15.16
| 7.30%
| 6.22%
| CRISIL Corporate Debt A-II Index
|
Union Dynamic Bond Fund
| Debt
| ₹24.11
| 7.87%
| 6.66%
| CRISIL Dynamic Bond A-III Index
|
Union Gilt Fund
| Debt
| ₹12.17
| 8.48%
| 7.24%
| CRISIL Dynamic Gilt Index
|
Union Liquid Fund
| Debt
| ₹2,495.26
| 6.76%
| 6.53%
| CRISIL Liquid Debt A-I Index
|
Union Money Market Fund
| Debt
| ₹1,237.50
| 6.33%
| 6.12%
| CRISIL Money Market A-I Index
|
Union Overnight Fund
| Debt
| ₹1,342.22
| 5.09%
| 5.02%
| CRISIL Liquid Overnight Index
|
Union Short Duration Fund
| Debt
| ₹10.10
| 7.39%
| N.A
| CRISIL Short Duration Debt A-II Index
|
Union Arbitrage Fund
| Hybrid
| ₹14.25
| 5.53%
| 5.99%
| Nifty 50 Arbitrage Index
|
Union Equity Savings Fund
| Hybrid
| ₹16.85
| 9.25%
| 7.85%
| CRISIL Equity Savings Index
|
Union Aggressive Hybrid Fund
| Hybrid
| ₹17.50
| 11.79%
| 12.66%
| CRISIL Hybrid 35+65 - Aggressive Index
|
Union Balanced Advantage Fund
| Hybrid
| ₹20.56
| 10.40%
| 9.91%
| NIFTY 50 Hybrid Composite Debt 50:50 Index
|
Union Children's Fund
| Solution Oriented
| ₹11.52
| 5.68%
| 6.23%
| BSE 500 TRI
|
Union Retirement Fund
| Solution Oriented
| ₹14.84
| 12.92%
| 14.09%
| BSE 500 TRI
|
Union Gold ETF
| ETF
| ₹87.38
| N.A
| -73.98%
| Domestic Gold Prices
|
Union Gold ETF Fund of Fund
| FOF
| ₹10.34
| N.A
| N.A
| Domestic Gold Prices
|
Union Flexi Cap Fund
This equity-oriented scheme provides flexibility by investing across large-cap, mid-cap, and small-cap stocks. The fund aims to capture growth opportunities across different market segments. As of 21 March 2025, its NAV stands at ₹52.08, delivering a 1-year return of 13.94% and a 5-year return of 13.04%. It tracks the BSE 500 TRI, which represents a broad market index.
Union Active Momentum Fund
This fund follows a momentum-based investment strategy, focusing on stocks exhibiting strong upward price trends. However, it has significantly underperformed, with a 1-year return of -49.53% and a 5-year return of -75.61%. Its NAV is ₹8.21, and it is benchmarked against the Nifty 500 TRI. The negative returns suggest a high-risk investment approach that has not yielded favourable results.
Union Business Cycle Fund
This equity fund invests based on economic and business cycles, shifting allocations depending on macroeconomic conditions. As of 21 March 2025, the fund has an NAV of ₹10.41, a 1-year return of -1.53%, and a 5-year return of -2.64%. It is benchmarked against the Nifty 500 TRI. The negative returns indicate that the fund has struggled to navigate business cycles effectively.
Union Focused Fund
This scheme maintains a concentrated portfolio with a limited number of stocks, aiming for high conviction investments. It has delivered strong performance with a 1-year return of 17.40% and a 5-year return of 16.20%. The NAV is ₹24.65, and it follows the BSE 500 TRI benchmark.
Union Largecap Fund
Focusing on large-cap companies, this fund aims to provide stability and long-term capital appreciation. It has an NAV of ₹23.35, a 1-year return of 13.30%, and a 5-year return of 10.57%. The fund tracks the S&P BSE 100 TRI, which represents the top 100 large-cap stocks in India.
Union Innovation and Opportunities Fund
This equity fund targets companies with innovative business models, disruptive technologies, or unique market opportunities. As of 21 March 2025, it has an NAV of ₹12.94, a 1-year return of 10.85%, and a 5-year return of 13.03%. It follows the Nifty 500 TRI benchmark.
Union Large and Midcap Fund
Investing in both large-cap and mid-cap stocks, this fund balances stability and growth potential. It has outperformed with a 1-year return of 18.68% and a 5-year return of 17.33%. The NAV is ₹24.84, and it is benchmarked against the Nifty LargeMidcap 250 TRI.
Union Multicap Fund
This fund spreads investments across large, mid, and small-cap stocks to maximise diversification. As of 21 March 2025, the NAV stands at ₹14.79, with a 1-year return of 14.67% and a 5-year return of 15.67%. It tracks the NIFTY 500 Multicap 50:25:25 TRI, ensuring a balanced allocation across different market segments.
Union Midcap Fund
Targeting mid-cap stocks, this fund offers higher growth potential but with increased volatility. It has performed well, with a 1-year return of 35.70% and a 5-year return of 33.49%. The NAV is ₹45.20, and it follows the BSE Midcap 150 TRI.
Union Small Cap Fund
This equity fund focuses on small-cap companies, which have the potential for high growth but also carry higher risk. The NAV is ₹47.68, with a 1-year return of 13.31% and a 5-year return of 14.60%. It is benchmarked against the BSE 250 Smallcap TRI.
Union ELSS Tax Saver Fund
This Equity Linked Savings Scheme (ELSS) offers tax benefits under Section 80C of the Income Tax Act. The NAV is ₹64.21, with a 1-year return of 13.94% and a 5-year return of 13.29%. It tracks the BSE 500 TRI. Investors in this fund benefit from long-term wealth creation along with tax-saving advantages.
Union Value Fund
Following a value investing approach, this fund focuses on stocks that are undervalued relative to their intrinsic worth. It has an NAV of ₹27.21, a 1-year return of 15.15%, and a 5-year return of 16.07%. The benchmark is the BSE 500 TRI.
Union Corporate Bond Fund
A debt-oriented scheme investing primarily in high-quality corporate bonds, this fund aims for stable returns. The NAV is ₹15.16, with a 1-year return of 7.30% and a 5-year return of 6.22%. It follows the CRISIL Corporate Debt A-II Index.
Union Dynamic Bond Fund
This debt fund dynamically manages investments across debt instruments with varying maturities. The NAV is ₹24.11, with a 1-year return of 7.87% and a 5-year return of 6.66%. It is benchmarked against the CRISIL Dynamic Bond A-III Index.
Union Gilt Fund
Investing in government securities, this debt fund aims for low-risk, stable returns. The NAV is ₹12.17, with a 1-year return of 8.48% and a 5-year return of 7.24%. It follows the CRISIL Dynamic Gilt Index.
Union Liquid Fund
This fund invests in highly liquid, short-term money market instruments. It has an NAV of ₹2,495.26, a 1-year return of 6.76%, and a 5-year return of 6.53%. It is benchmarked against the CRISIL Liquid Debt A-I Index.
Union Money Market Fund
Focusing on short-duration money market instruments, this debt fund ensures liquidity and stability. The NAV is ₹1,237.50, with a 1-year return of 6.33% and a 5-year return of 6.12%. It follows the CRISIL Money Market A-I Index.
Union Overnight Fund
This debt fund invests in overnight securities, offering minimal risk. The NAV is ₹1,342.22, with a 1-year return of 5.09% and a 5-year return of 5.02%. It is benchmarked against the CRISIL Liquid Overnight Index.
Union Short Duration Fund
Investing in debt instruments with short maturities, this fund balances risk and returns. The NAV is ₹10.10, with a 1-year return of 7.39%. It follows the CRISIL Short Duration Debt A-II Index.
Union Arbitrage Fund
This hybrid fund seeks to exploit arbitrage opportunities in the market while maintaining a low-risk profile. The NAV is ₹14.25, with a 1-year return of 5.53% and a 5-year return of 5.99%. It tracks the Nifty 50 Arbitrage Index.
Union Equity Savings Fund
Combining equity and debt, this hybrid fund aims for steady income with moderate risk. The NAV is ₹16.85, with a 1-year return of 9.25% and a 5-year return of 7.85%. It follows the CRISIL Equity Savings Index.
Union Aggressive Hybrid Fund
A mix of equity and debt, this fund is suited for long-term investors seeking growth with stability. The NAV is ₹17.50, with a 1-year return of 11.79% and a 5-year return of 12.66%. It tracks the CRISIL Hybrid 35+65 - Aggressive Index.
Union Balanced Advantage Fund
This fund dynamically allocates assets between equity and debt based on market conditions. The NAV is ₹20.56, with a 1-year return of 10.40% and a 5-year return of 9.91%. It follows the NIFTY 50 Hybrid Composite Debt 50:50 Index.
Union Children’s Fund
A solution-oriented scheme designed to build wealth for children’s future needs. The NAV is ₹11.52, with a 1-year return of 5.68% and a 5-year return of 6.23%. It tracks the BSE 500 TRI.
Union Retirement Fund
This solution-oriented fund focuses on long-term retirement planning. The NAV is ₹14.84, with a 1-year return of 12.92% and a 5-year return of 14.09%, benchmarked against the BSE 500 TRI.
Union Gold ETF
This exchange-traded fund (ETF) invests in physical gold, aiming to mirror domestic gold prices. As of 21 March 2025, its NAV stands at ₹87.38. The fund’s 5-year return is -73.98%, indicating a significant decline in value over time. Since it is linked to gold prices, its performance depends on fluctuations in the gold market. This ETF is suitable for investors looking to gain exposure to gold without holding physical assets.
Union Gold ETF Fund of Fund
This fund-of-fund (FoF) invests in the Union Gold ETF, providing indirect exposure to gold prices. As of 21 March 2025, its NAV is ₹10.34. Since it derives its value from the underlying ETF, its returns align with the performance of Union Gold ETF and domestic gold prices. It is an option for investors preferring a mutual fund structure over directly trading ETFs.