Union Mutual Fund
Union Mutual Fund is the investment division of Union Bank of India. It has been operating in India's asset management sector for over a decade. The mission of the company is to generate wealth for investors by providing responsible and sustainable investment avenues.
The AMC was established on December 30, 2009. It utilised Union Bank of India's large customer base to reach out to more people.
Initially, it operated with Belgium-based AMC KBC Asset Management NV as Union KBC Mutual Fund. Union Bank of India was the majority owner, while 49% belonged to KBC. KBC withdrew from the association in 2016, and Union Bank of India purchased the shares, thereby making Union Mutual Fund a subsidiary.
Dai-ichi Life Insurance Company of Japan, a major financial service company, acquired a 39.62% stake in 2017. Though the composition did not change, Dai-ichi Life was allotted one seat on the Board of Directors.
Sponsors of Union Mutual Fund
Union Bank of India (UBI)
Founded in 1919, opened by Mahatma Gandhi.
Nationalised in 1969 with 240 offices.
Augmented by the acquisition of Belgaum Bank (1975), Miraj State Bank (1985), and Sikkim Bank (1999).
Spread across the globe in 2007 with its very first international branch in Abu Dhabi.
Has more than 4,300 branches, over 35,000 staff, and is featured on the Forbes 2000 list.
Dai-ichi Life Insurance (Japan)
Established in 1902, it is one of the top three insurance companies in Japan.
Possesses assets valued at over $347 billion.
Operative in various financial services and investments globally.
Major Information About Union Mutual Fund
Mutual Fund name | Union Mutual Fund |
AMC Setup Date | 23rd March, 2011 |
AMC Incorporation Date | 30th December, 2009 |
Sponsor name | Union Bank of India & Dai-ichi Life Holdings Inc. |
Trustee organisation | Union Trustee Company Private Limited |
Chairman | Rajkiran Rai G. |
CIO | Vinay Paharia |
MD & CEO | G. Pradeepkumar |
Compliance Officer | Padmaja Shirke |
Investor Service Officer | Joseph Idichandy |
How to Invest in Union Mutual Funds
Investing in Union Mutual Fund is easy and completely online. The method is clear and safe.
Procedure to invest:
Log in to the official Union Mutual Fund website or any other reliable investment portal.
Do KYC (Know Your Customer) with identification documents like Aadhaar, passport, driving license, or voter ID.
Provide address proof like Aadhaar, a bill, or a ration card.
Choose your investment goal – short-term, mid-term, or long-term.
Pick your risk level – low, medium, or high.
Pick a suitable fund according to your goals.
Invest in SIP (Systematic Investment Plan) or a Lump Sum.
Then your investment information will be updated in your account in 3–4 working days.
Top Fund Managers of Union Mutual Fund
Vinay Paharia (CIO) – More than 16 years of experience; manages equity funds such as Union Small Cap Fund, Union Multi-Cap Fund, and Union Equity Savings Fund.
Parijat Agrawal (Fixed Income Head) – Over two decades of experience in debt markets, oversees schemes such as the Union Balanced Advantage Fund and the Union Dynamic Bond Fund.
Anshul Mishra (Fund Manager) – Over 10 years of experience, oversees the Union Large Cap Fund and the Union Balanced Advantage Fund.
Anindya Sarkar (Fund Manager) – Twenty years of experience in finance and risk management, oversees debt-oriented schemes.
Popular Union Mutual Fund Schemes
Fund Name | Category | 3-Year Return | 5-Year Return | Minimum Investment (SIP/Lump Sum) |
Union Overnight Fund | Debt | 6.46% | 5.26% | ?500 / ?5,000 |
Union Midcap Fund | Equity | 19.43% | 26.33% | ?500 / ?1,000 |
Union Flexi Cap Fund | Equity | 15.97% | 20.65% | ?500 / ?1,000 |
Union ELSS Tax Saver Fund | Equity | 15.88% | 21.11% | ?500 / ?500 |
Union Balanced Advantage Fund | Hybrid | 11.28% | 12.11% | ?500 / ?1,000 |
Union Liquid Fund | Debt | 7.11% | 5.73% | ?500 / ?5,000 |
Union Value Fund | Equity | 18.61% | 22.58% | ?500 / ?1,000 |
Union Small Cap Fund | Equity | 17.57% | 25.90% | ?500 / ?1,000 |
Union Large & Midcap Fund | Equity | 16.18% | 21.02% | ?500 / ?1,000 |
Union Focused Fund | Equity | 13.74% | 18.91% | ?500 / ?1,000 |
Union Aggressive Hybrid Fund | Hybrid | Moderate | Moderate | ?500 / ?1,000 |
Union Large Cap Fund | Equity | 13.32% | 17.79% | ?500 / ?1,000 |
Union Corporate Bond Fund | Debt | 7.55% | 6.07% | ?500 / ?1,000 |
Union Arbitrage Fund | Hybrid | 7.44% | 6.01% | ?500 / ?1,000 |
Union Gilt Fund | Debt | Stable | Stable | ?500 / ?1,000 |
Frequently Asked Questions
Q1. Who is the owner of Union Mutual Fund?
Union Mutual Fund is owned by Union Bank of India and Dai-ichi Life Insurance of Japan jointly.
Q2. What is the minimum amount to invest in Union Mutual Funds?
Minimum SIP is ?500 for most funds, and minimum lump sum investment is ?1,000.
Q3. Does Union Mutual Fund have tax-saving schemes?
Yes, the Union ELSS Tax Saver Fund is eligible for tax deductions under Section 80C of the Income Tax Act.
Q4. How secure is it to invest in Union Mutual Funds?
Union Mutual Fund is regulated by SEBI and supported by Union Bank of India and Dai-ichi Life. But returns are market-linked.
Q5. Is it possible to invest online?
Yes, the whole process – from KYC to choosing funds – can be completed online within a matter of minutes.
