Jaipur, November, 2019: Union Asset Management Company, a subsidiary of Union Bank of India and Dai-ichi Life Holdings, Inc. of Japan, announces the launch of Union Large & Midcap Fund. The Scheme is an open-ended equity scheme investing in both large cap and mid cap stocks.
The New Fund Offer (NFO) opens on 15th November 2019 and closes on 29th November 2019. The allotment would be on 6th December 2019 and it will re-open for continuous sale and repurchase on 13th December 2019. The Scheme is benchmarked against S&P BSE 250 Large MidCap Index$ (TRI) and will be managed by Mr. Vinay Paharia, Chief Investment Officer, Union AMC. The minimum investment required is Rs 5,000 and in multiples of Rs 1 thereafter.
The Scheme will predominantly invest in equity and equity related instruments of large & mid cap companies. It will be managed by following anactive management strategy coupled with tactical allocation.
Mr. G. Pradeepkumar, Chief Executive Officer (CEO), Union Asset Management Company Private Limited, said “We believe that the Indian equity markets are fairly valued now. Several measures taken by the Government to make India a $5 trillion economy by year 2025 augurs well for the equity markets in general. This product offering is in line with our long term plan of making Union AMC a one stop shop for investors with varied investment requirements. Our research says that one of the biggest beneficiaries of this Gross Domestic Product growth could be bluechip and emerging bluechip companies. Hence, it makes sense for investors to be part of such an investment strategy”