Union Asset Management Company Private Limited (“the AMC”), a subsidiary of Union Bank of India, announced the launch of Union Focused Fund.
Union Focused Fund (“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. The Scheme aims to build a concentrated portfolio of companies that are selected on the basis of the investment philosophy of the AMC.
The NFO period of the Schemes is from July 15, 2019, to July 29, 2019. Vinay Paharia, Chief Investment Officer of the AMC, is the Fund Manager of this Scheme.
Speaking on the launch, G Pradeepkumar, Chief Executive Officer of Union AMC 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 on maximum of 30 stocks with the flexibility to invest across market capitalization.”
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.”
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