The Live Nagpur
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Featured
  • Crime
  • Entertainment & Lifestyle
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary

The Live Nagpur

  • Home
  • City
  • Politics
  • Business
  • Education
  • Entertainment
  • Sports
  • Health
  • Crime
  • Forest
  • Featured
  • Vidarbha
Featured

Union AMC Eyes Growth from B30 cities Aims to Double AUM toRs 10000 Crores

by TLN Team January 11, 2021
written by TLN Team January 11, 2021
Union AMC Eyes Growth from B30 cities Aims to Double AUM  toRs 10000 Crores

 Union AMC,  today announced its growth strategy aimed at doubling its AUM ( Assets under management ) to 10,000 crores with growth coming in from  B30 cities.

Union AMC in the past few years,has undergone significant changes in various facets of its operations as well as in ownershipis ready to take offon a high growth trajectory and appear in its new avatar or version 2.0..  The firm is co-sponsored by Union Bank ,a leading Indian PSU bank and a Dai-chi Life Holdings , Inc a prominent Japanese foreign financial behemoth

Mr. G. Pradeepkumar, Chief Executive Officer (CEO), Union Asset Management Company Private Limited, said “The AMC has implemented a more robust investment process resulting in improved performance of various schemes of Union AMC.  The company also manages a portfolio for Daichithrough FPI route. The year 2020 has also witnessed amalgamation of Andhra Bank and Corporation Bank with Union Bank of India. The amalgamated entity now has more resources in terms of branches to help enable the growth strategy.

He further added “ The contribution in the AAUM of Union Mutual Fund from Retail investors and from B30 cities has been good. Our Average AUM in November 2020, had a share of about 39% from B30 cities. We have close to 1% market share of the unique investors in the industry. Armed with a committed and resourceful set of sponsors, a new CIO at the helm and a robust investment process that aims to deliver consistent returns, combined with an aggressive sales and marketing strategy we aim to double our AUM from current levels in a year’s time.”

Recently, more emphasis has been given to driving the business through mutual fund distributors other than Union Bank. A dedicated sales force at Union AMC has been created to look after this segment of the market. The results have been good. From around 3% of monthly AAUM in Nov 2018 coming through Non-Associate Distributors, it has risen to about 11% in Nov 2020. In fact, it nearly doubled from 6% in March 2020 to 11% in November 2020. 

Mr. VinayPaharia, Chief Investment Officer (CIO), Union Asset Management Company Private Limited opined “All our investment decisions are guided by our investment process. 

In the current market situation, we recommend asset allocation based mutual fund products. We prefer sectors such as IT and Telecom and are underweight Utility and Consumer Discretionary sectors. As for fixed income, we believe softer interest rate regime could continue in the near term till economic growth completely revives. According to us, the key risk to both – equity and fixed income markets – would be any unanticipated spike in inflationleading to increase in interest rates.”

 

0 comment
FacebookTwitterLinkedin
TLN Team

previous post
Nalgonda School for Blind, the blind school run by blind for the blind completes 25 years Blind too can dream: Chokka Rao
next post
Cochlear Implant Surgeries resume at OCHR

You may also like

HDFC Bank launches Regalia Gold Credit Card 

March 24, 2023

City welcomes Nani for the promotions of ‘Dasara’

March 23, 2023

Asian Paints promotes ‘Shauq KiNo Limit’ in their new...

March 23, 2023

CAHO and Dozee Join Hands for a CXO Meet, Highlights...

March 22, 2023

Tata Motors Announces Price Increase for Commercial Vehicles

March 22, 2023

Best Sports Betting Apps in India

March 22, 2023

Pinup Aviator game: can I make money on...

March 22, 2023

Eating Almonds Before Meals Improved Blood Sugar Levels...

March 21, 2023

MNS Chief Raj Thackeray unveils teaser of ‘Maharashtra Shahir’

March 21, 2023

Tata Hitachi launches the ZX670H Mining Excavator

March 21, 2023

Trending News

  • Asia Cup 2023 in Pakistan, England likely to host India’s matches

    March 24, 2023
  • Salman Khan receives threat on email from Bishnoi gang, FIR filed

    March 19, 2023
  • Leopard from Pakistan enters Indian territory, watch video

    March 19, 2023
  • New COVID protocol for cricketers ahead of IPL 2023

    March 19, 2023
  • COVID-19 pandemic likely to settle as seasonal flu : WHO

    March 19, 2023

Important Links

  • Politics
  • Crime
  • Business
  • Education
  • Entertainment
  • Sports

Available on Playstore & Coming Soon on Appstore

Search

January 2021
M T W T F S S
« Dec   Feb »
 123
45678910
11121314151617
18192021222324
25262728293031

Sign-Up Form

Subscribe my Newsletter for new blog posts, tips & new photos. Let's stay updated!

Footer Logo
  • Nagpur City
  • Nagpur Education
  • Nagpur Sports
  • Business
  • Featured
  • Crime
  • Entertainment & Lifestyle
  • Health & Wellness
  • Nation
  • Politics
  • Trending
  • Vidarbha
  • Obituary
  • Privacy Policy
  • Cookie Policy
  • Terms Of Use
  • Advertise with Us

© 2020 - The Live Nagpur . All Rights Reserved.