Chennai: Union Asset Management Company Private Limited, a subsidiary of Union Bank of India, has announced the launch of Union Focused Fund.
A release said the scheme is an open-ended equity fund scheme which would be investing in a focused portfolio of maximum 30 stocks and has the flexibility to invest across large cap, mid cap and small cap categories.
It aims to build a concentrated portfolio of companies that are selected on the basis of the investment philosophy of the AMC, said the firm.
The NFO period of the scheme is from 15-29 July. Chief investment officer of the AMC, Vinay Paharia, is the fund manager of this scheme.
Speaking on the launch, CEO of Union AMC, G Pradeepkumar, said, “With the launch of Union Focused Fund, Union Mutual Fund is taking an important step in enhancing its product basket to provide differentiated investment solutions to its investors. The new product will help us expand our equity bouquet. The fund will be managed by Vinay Paharia, who has a successful long-term track record of managing funds across multiple strategies. The portfolio will be centered around maximum 30 stocks with a flexibility to invest across market capitalisation.”
He further added that, “The last 12 months have been good for Union Mutual Fund, since we have put in place a robust new investment process which is based on fundamental research and fair value approach. The results of this approach are visible over this period in most of our funds.”