Union AMC launches Union Hybrid Equity Fund
1 min read . Updated: 24 Nov 2020, 09:43 AM IST
PremiumUnion Hybrid Equity Fund will be managed by Vinay Paharia, Parijat Agrawal and Hardick Bora.
Union AMC has launched Union Hybrid Equity Fund. It is an open-ended hybrid scheme investing predominantly in equity and equity related instruments. The scheme will invest minimum 65% in equity and maximum 35% in debt. The New Fund Offer (NFO) of the Scheme will open on November 27 and will close on December 11.
The Scheme is benchmarked against CRISIL Hybrid 35+65 Aggressive Index (TRI) and will be managed by Vinay Paharia, Parijat Agrawal and Hardick Bora. The minimum investment required is ₹5,000 and in multiples of Re 1 thereafter.
The scheme will offer growth and dividend option to its investors.
"Among other things, prudent asset allocation forms the bedrock of a successful investment outcome. Different asset classes do not generally move in tandem and hence taking exposure to Union Hybrid Equity Fund which inherently offers a combination of equity and debt can be a good choice for investors looking for a balanced approach to asset allocation. This scheme shall endeavour to maintain a judicious mix of equity and debt within the overall limits allowed for this category. All investment decisions in this scheme portfolio will be guided by our strong investment process," says G. Pradeepkumar, Chief Executive Officer (CEO), Union Asset Management Company.
The allotment of the units under Union Hybrid Equity Fund would be done on December 18 and it will re-open for continuous sale and repurchase on December 28 2020.
Union AMC is co-sponsored by Union Bank of India and Dai-ichi Life Holdings, Inc. of Japan.
