Union Mutual Fund, the investment wing of Union Bank of India, is one of the key drivers of the asset management sector in India for over a decade. The vision of the company is to provide opportunities to investors so that they can achieve sustainable prosperity by investing responsibly in the capital markets.
The AMC was set up on December 30, 2009, with the aim to formulate a robust asset management portfolio in India. They already had access to the extensive client base of Union Bank of India, which they capitalised on extensively.
The AMC was set up in collaboration with KBC Asset Management NV, a Belgium-based AMC. It was initially known as Union KBC Mutual Fund. Union Bank always held the majority stake in the company while KBC controlled a 49% share.
The partnership ended in 2016 when KBC pulled out of the agreement and Union Bank of India purchased their shares, making Union Mutual Fund their wholly owned subsidy.
Subsequently, in 2017, Dai-ichi Life, a major financial services company from Japan, acquired 39.62% stake at the AMC. Although no changes have been made to the existing structure of the AMC, Dai-ichi would appoint one nominee to its Board of Directors.
About Sponsors
Currently, Union Mutual Fund is jointly sponsored by the Union Bank of India and Dai-ichi Life.
Union Bank of India
Union Bank of India (UBI) is one of the most significant government-owned banks in the country, which will complete a hundred years of existence in 2019. It was inaugurated by none other than Mahatma Gandhi on November 11, 1919. Even before Indian independence, UBI was a significant financial institution in the country entirely run by Indians. At the time of Independence, it had four offices.
UBI grew in leaps and bounds after Independence. It was nationalised in 1969 under the Indira Gandhi regime. At the time, they had 240 branches spread across the country.
UBI went on an acquisition spree post its nationalisation. They acquired Belgaum Bank in 1975, Miraj State Bank in 1985 and Sikkim Bank in 1999, after a request from Reserve bank of India.
They also kept expanding their operations and even went international in 2007 when they opened a branch office in Abu Dhabi. Currently, it has branches at three other international locations, Sydney, Antwerp and Hong Kong.
In all, UBI now has 4,300 branches across the country and has total assets worth over Rs. 14674.66 Crore. They employ over 35,000 employees and are listed on the Forbes 2000 list.
Dai-ichi Life
Dai-ichi Life is one of the top three insurance companies in Japan, with interests in several other financial services. The company was founded in 1902 and has emerged as one of the largest companies in Japan, with estimated total assets of over $347 billion.
They have substantial shares at several companies including the Tokyu Corporation and Union KBC Mutual Funds.
| Fund Name | Category | Risk | 1Y Returns | Rating | Fund Size(in Cr) |
|---|---|---|---|---|---|
Union Liquid Fund | Debt | Low to Moderate | 7.4% | 5 | ₹2,479 |
Union ELSS Tax Saver Fund | Equity | Very High | 37.1% | 4 | ₹875 |
Union Flexi Cap Fund | Equity | Very High | 39.3% | 4 | ₹2,051 |
Union Midcap Fund | Equity | Very High | 48.3% | 3 | ₹1,139 |
Union Value Fund | Equity | Very High | 48.7% | 3 | ₹237 |
Union Value Discovery Fund | Equity | Very High | 34.3% | 3 | ₹199 |
Union Tax Saver (ELSS) Fund | Equity | Very High | 20.6% | 3 | ₹747 |
Union Focused Fund | Equity | Moderately High | 33.2% | 3 | ₹402 |
Union Largecap Fund | Equity | Very High | 34.9% | 3 | ₹335 |
Union Hybrid Equity Fund | Hybrid | Very High | 22.0% | 3 | ₹584 |
Union Balanced Advantage Fund | Hybrid | Very High | 21.2% | 3 | ₹1,601 |
Union Overnight Fund | Debt | Low | 6.8% | 3 | ₹157 |
Union Small Cap Fund | Equity | Very High | 46.7% | 2 | ₹1,408 |
Union Large & Midcap Fund | Equity | Moderately High | 40.3% | 2 | ₹735 |
Union Aggressive Hybrid Fund | Hybrid | Very High | 29.8% | 2 | ₹594 |
| View All |
| Mutual fund name | Union Mutual Fund | |
| AMC Setup Date | 23 March 2011 | |
| AMC Incorporation Date | 30 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 and CEO | G. Pradeepkumar | |
| Compliance Officer | Padmaja Shirke | |
| Investor Service Officer | Joseph Idichandy |
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Investing in Union KBC Mutual Funds is an online procedure, which makes it completely transparent and hassle-free. There is no place for ambiguity in the process, which ensures that your transactions are secure.
To invest in Union KBC Mutual Fund online, follow the steps mentioned below.
Step 1: Go to the Groww website and register your account there. If you are an existing user, you just need to log in.
Step 2: Submit your KYC documents to prove your identity. Government-issued documents such as Voter ID card, Passport, Driving License, Aadhaar, etc. are all valid KYC documents.
Step 3: Upload supporting documents for your proof of address. Apart from your KYC documents, you can also use your Ration card and utility bills such as electricity or telephone bill for the purpose.
Step 4: From the choice of available options, choose whether you want to make a short term, midterm or long term investment.
Step 5: Select the amount of risk you are comfortable with. It can be low, medium or high.
Step 6: From the list of available choices, make a suitable investment after thoroughly tallying the funds against your requirements.
Step 7: Click on ‘Start SIP’ or ‘Invest One Time’ as per your preference. The first option will open a SIP portfolio in your name, while the latter allows you to make a one-time investment.
Done correctly, this entire procedure should take no more than a few minutes of your time. It’s a straightforward process, and the result is instantaneous. Once you have made the investment, it shall reflect on your Groww account in the next 3 to 4 business days.
1. Mr. Vinay Paharia
Mr. Vinay Paharia is the Chief Investment Officer at KBC Union Bank Mutual Fund. Mr. Paharia brings with himself over 16 years of experience in the financial services sector. He started his career as an Equity Research Analyst at First Global Stockbroking Pvt. Ltd. He held the same portfolio at his next 2 companies, K R Choskey Shares and Securities Pvt. Ltd. and DBS Cholamandalam AMC. Immediately before joining Union Mutual Fund, he was associated with Invesco Asset Management (India) Pvt. Ltd., where he worked for over 11 years.
Academically, Mr. Paharia is an MMS in Finance from Welingkar Institute of Management as well as a CFA from Institute of Chartered Financial Analyst of India. His vast experience and business acumen have been an immense addition to the investment team of Union Bank KBC Mutual Fund, where he manages 9 schemes with an aggregated AuM of Rs. 1,793 Crore.
Some of the key funds under his management are Union Small cap Fund, Union Multi-Cap Fund and Union Equity Savings Fund.
2. Mr. Parijat Agrawal
A PGBM from IIM-B, Mr. Parijat Agrawal is the Head of Fixed Income at Union KBC Mutual Funds. With a career spanning over two decades, Mr. Agrawal knows the financial market inside out. His vast experience in this field has made him the go-to person for financial troubleshooting.
Mr. Agrawal has been associated with Union Mutual Fund right from its onset and has worked there for 9 years running. Before that, he was the Head of Fixed Income at SBI Mutual Fund as well as the Head of Treasury at State Bank of Mauritius.
At Union Mutual Fund, Mr. Agrawal oversees the Fixed Income department along with managing 12 schemes worth a total AuM of Rs. 2,009 Crore. Among several others, he manages Union Equity Savings Fund, Union Balanced Advantage Fund and Union Dynamic Bond Fund.
3. Mr. Anshul Mishra
Mr. Anshul Mishra is one of the most dynamic Fund Managers at Union Bank KBC Mutual Fund. With over a decade of experience in the field, he has consistently ensured high returns on all the funds he manages.
Before joining Union, Mr. Mishra was a Fund Manager at IDBI Asset Management Ltd., where he worked for 3 years, ING Mutual Fund, where he worked for 5 years in Equity and Tax Saving Funds. He started his career as a Manager at IDBI Bank.
He manages 9 schemes worth an AuM of Rs. 1031 Crore at Union KBC Mutual Fund. Some of his highest grossing funds are Union Large Cap Fund and Union balanced Advantage Fund.
Mr. Agrawal holds a CFA as well as an MBA degree apart from being a B.E in Mechanical Engineering.
4. Mr. Anindya Sarkar
Mr. Anindya Sarkar is a double MBA in Finance and Risk Management from Savitribai Phule Pune University and St. John’s University- School of Risk Management respectively. The two decades of experience that he brings to the table makes him one of the most astute Fund Managers at Union Mutual Fund.
Mr. Sarkar has been associated with Union Bank KBC Mutual Fund since its inception. He joined as a Vice President in Risk Management, a post that he held for over 8 years, before becoming a Fund Manager. Before he joined Union Mutual Fund, Mr. Sarkar had worked with various firms both in India and abroad. He was a Broker at DVF Ltd and ICAP India Pvt. Ltd, before he joined The Navigators group, Inc. in New York as a Risk Manager.
At Union Mutual Fund, Mr. Sarkar manages 3 funds, the aggregated AuM of which is 346 Crore.
Now let us jump and check about these top 15 mutual fund schemes.
Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 5.73% & 5.3%. The Union Liquid Fund comes under the Debt category of Union Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for Union Liquid Fund is ₹5,000 and for SIP, it is ₹500.
| Min Investment Amt | ₹5,000 |
|---|---|
| AUM | ₹2,479Cr |
| 1Y Returns | 7.4% |
Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 20.91% & 20.11%. The Union ELSS Tax Saver Fund comes under the Equity category of Union Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for Union ELSS Tax Saver Fund is ₹500 and for SIP, it is ₹500.
| Min Investment Amt | ₹500 |
|---|---|
| AUM | ₹875Cr |
| 1Y Returns | 37.1% |
Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 20.61% & 20.11%. The Union Flexi Cap Fund comes under the Equity category of Union Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for Union Flexi Cap Fund is ₹1,000 and for SIP, it is ₹500.
| Min Investment Amt | ₹1,000 |
|---|---|
| AUM | ₹2,051Cr |
| 1Y Returns | 39.3% |
Fund Performance: The Union Midcap Fund comes under the Equity category of Union Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for Union Midcap Fund is ₹1,000 and for SIP, it is ₹500.
| Min Investment Amt | ₹1,000 |
|---|---|
| AUM | ₹1,139Cr |
| 1Y Returns | 48.3% |
Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 23.46% & 20.35%. The Union Value Fund comes under the Equity category of Union Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for Union Value Fund is ₹1,000 and for SIP, it is ₹500.
| Min Investment Amt | ₹1,000 |
|---|---|
| AUM | ₹237Cr |
| 1Y Returns | 48.7% |
Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 22.8% & 19.32%. The Union Value Discovery Fund comes under the Equity category of Union Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for Union Value Discovery Fund is ₹1,000 and for SIP, it is ₹1,000.
| Min Investment Amt | ₹1,000 |
|---|---|
| AUM | ₹199Cr |
| 1Y Returns | 34.3% |
Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 22.08% & 19.07%. The Union Tax Saver (ELSS) Fund comes under the Equity category of Union Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for Union Tax Saver (ELSS) Fund is ₹500 and for SIP, it is ₹500.
| Min Investment Amt | ₹500 |
|---|---|
| AUM | ₹747Cr |
| 1Y Returns | 20.6% |
Fund Performance: The Union Focused Fund comes under the Equity category of Union Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for Union Focused Fund is ₹1,000 and for SIP, it is ₹500.
| Min Investment Amt | ₹1,000 |
|---|---|
| AUM | ₹402Cr |
| 1Y Returns | 33.2% |
Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 17.81% & 16.29%. The Union Largecap Fund comes under the Equity category of Union Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for Union Largecap Fund is ₹1,000 and for SIP, it is ₹500.
| Min Investment Amt | ₹1,000 |
|---|---|
| AUM | ₹335Cr |
| 1Y Returns | 34.9% |
Fund Performance: The Union Hybrid Equity Fund comes under the Hybrid category of Union Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for Union Hybrid Equity Fund is ₹1,000 and for SIP, it is ₹1,000.
| Min Investment Amt | ₹1,000 |
|---|---|
| AUM | ₹584Cr |
| 1Y Returns | 22.0% |
Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 11.42% & 13.1%. The Union Balanced Advantage Fund comes under the Hybrid category of Union Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for Union Balanced Advantage Fund is ₹1,000 and for SIP, it is ₹500.
| Min Investment Amt | ₹1,000 |
|---|---|
| AUM | ₹1,601Cr |
| 1Y Returns | 21.2% |
Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 5.34% & 4.74%. The Union Overnight Fund comes under the Debt category of Union Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for Union Overnight Fund is ₹5,000 and for SIP, it is ₹500.
| Min Investment Amt | ₹5,000 |
|---|---|
| AUM | ₹157Cr |
| 1Y Returns | 6.8% |
Fund Performance: The fund's annualized returns for the past 3 years & 5 years has been around 24.97% & 27.98%. The Union Small Cap Fund comes under the Equity category of Union Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for Union Small Cap Fund is ₹1,000 and for SIP, it is ₹500.
| Min Investment Amt | ₹1,000 |
|---|---|
| AUM | ₹1,408Cr |
| 1Y Returns | 46.7% |
Fund Performance: The Union Large & Midcap Fund comes under the Equity category of Union Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for Union Large & Midcap Fund is ₹1,000 and for SIP, it is ₹500.
| Min Investment Amt | ₹1,000 |
|---|---|
| AUM | ₹735Cr |
| 1Y Returns | 40.3% |
Fund Performance: The Union Aggressive Hybrid Fund comes under the Hybrid category of Union Mutual Funds.
Minimum Investment Amount: Lump sum minimum amount for Union Aggressive Hybrid Fund is ₹1,000 and for SIP, it is ₹500.
| Min Investment Amt | ₹1,000 |
|---|---|
| AUM | ₹594Cr |
| 1Y Returns | 29.8% |
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