Mutual Funds

Union Mutual Fund Changes Equity Savings Fund Managers

Union Mutual Fund has announced change in Fund Manager of Union Equity Savings Fund, with immediate effect from July, 28, 2018. Parijat Agrawal and Hardick Bora will be the new Fund Managers of the scheme.

Union MF has declared that Mr. Parijat Agrawal and Mr. Hardick Bora will jointly manage the Union Equity Savings Fund, an open ended scheme investing in equity, arbitrage and debt instruments, according to AjmerA x-change.

Earlier, the Union Equity Savings Fund was announced to be managed by Mr. Vinay Paharia, the Chief Investment Officer of Union Asset Management Company, according to The Economic Times.

The NFO (New Fund Offer) of the Union AMC’s scheme opened for subscription from July 19, 2018 to July 30, 2018.

The investment objective of the Union Mutual Fund scheme is to keenly invest in a combination of diversified equity and equity related securities, arbitrage and derivative strategies, and debt and money market securities in order to seek capital appreciation and to generate consistent returns.

The open ended scheme will invest across Small Cap, Mid Cap, and Large Cap Stocks. The performance of the Union Equity Savings Fund is benchmarked against the CRISIL Short Term Debt Hybrid 75+25 Fund Index.

This Equity Savings scheme of the Union AMC is a perfect choice for investors who are in search for “dual benefits of capital, growth and stability in returns,” said G. Pradeep Kumar, CEO (Chief Executive Officer) of the fund house.

According to the CEO, asset allocation of the scheme in equity and equity related instruments will help in providing capital growth, asset allocation in arbitrage portion will arrest mispricing chances, and asset allocation in debt and money market securities will help in providing stability in returns.

Mr. Agrawal has been the Fixed Income Head and Fund Manager at Union Mutual Fund house since September 2010, according to Bloomberg. Mr. Bora has been the Fund Manager of the Union MF’s Union Small Cap Fund since October 2016, according to The Economic Times.

[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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