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Union Liquid Fund Mutual Fund Investment Scheme Subscriptions Suspended Temporarily

Union Liquid Fund Mutual Fund Investment Scheme subscriptions, switch-in applications and other pre-registered investments are all temporarily suspended, with immediate effect, the fund house announced the news on September 20, 2018.

The open-ended liquid debt fund aims to generate reasonable returns by investing in money market securities and debt instruments, with lower risk and high level of liquidity.

The Union Liquid Fund which was launched in June 2011, is benchmarked against CRISIL Liquid Fund Index. The face value of the liquid debt fund is 1000.00 Rupees per unit. The fund size of the scheme is 1593.82 Crore Rupees.

The NAV (Net Asset Value) of the Union Liquid Fund as on September 20, 2018, is 1724.3818 Rupees. The AUM (Asset Under Management) of the open-ended liquid debt fund is 2490.59 Crore Rupees. The expense ratio of the scheme is 0.19 percent.

Union Mutual Fund has appointed Devesh Thacker and Deep Mehta as the fund managers of the Liquid Fund scheme.

Mr. Thacker who has been managing the Union Liquid Fund Mutual Fund Investment Scheme since June 2011, has worked with Sahara Asset Management Company before joining the Union Asset Management Company. He has done B.Com (H) and Postgraduate degree from University of Pune.

Mr. Mehta who has been managing the Union Liquid Fund scheme since June 2018, has worked with Ratnakar Bank Limited, ICRA and Baritone Solutions before joining the Union MF house. He has completed B.E. and M.M.S.

The minimum initial investment of the Liquid debt scheme is 5000 Rupees. The CRISIL Liquid Fund Index benchmarked scheme will invest 100 percent of assets in debt instruments and 100 percent of assets in other securities excluding equity instruments, according to The Economic Times.

The Union Trustee Company Private Limited and the Board of Directors of Union AMC have temporarily suspended Union Liquid Fund Mutual Fund Investment Scheme subscriptions, switch-in applications and other pre-registered investments, according to KJMC.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]
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Bindhu Mol. G loves writing news articles. She excels in SEO articles, technical articles and academic articles. She covers commodities and mutual fund news for OWLT Market.

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