BackUnion AMC launches Union Retirement Fund, NFO opens this week
Union Retirement Fund is an open-ended retirement solution oriented scheme having a lock-in of 5 years or till retirement age
PremiumUnion AMC announces the launch of Union Retirement Fund. It is an open-ended retirement solution oriented scheme having a lock-in of 5 years or till retirement age (whichever is earlier). The New Fund Offer (NFO) of the scheme will open this week on Thursday, 1st September 2022 and close on 15th September 2022. The minimum investment required is ₹1,000 and in multiples of Rs. 1 thereafter.
The allotment date will be 22nd September 2022 and the Scheme will re-open for ongoing sale and repurchase on 29th September 2022. The Scheme is benchmarked against S&P BSE 500 Index (TRI) and will be managed by Vinay Paharia and Sanjay Bembalkar.
“Union Retirement Fund comes at a time when companies across industries are being challenged by record attrition. Employees are opting for a change in industries and some are even dropping out completely in favour of temporary jobs in search of fulfillment, meaning and purpose. Juxtapose this trend with a rise in life expectancy (life expectancy in India in its 75 years of independence has moved from ~30 years to nearly 70 years) and one needs serious planning and discipline to truly capitalize on the freedom of the post-retirement years," the asset management company said in the release.
G. Pradeepkumar, Chief Executive Officer (CEO) of Union AMC said “Union Retirement Fund is not just an NFO. It is a bugle that calls for serious introspection amongst all stakeholders to dovetail Aspiration planning with Financial planning. Renewment planning is how one meticulously plans for Freedom in a disciplined manner. It goes beyond just planning for the pursuit or accumulation of wealth."
Union AMC started its operations in 2011. It is co-sponsored by Union Bank of India and Dai-ichi Life Holdings. Union AMC currently manages nineteen open ended Schemes of which eight are categorized as Equity Schemes, seven as Debt Schemes and four as Hybrid Schemes.
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