Union mutual fund’s Union Retirement Fund NFO opens today. 5 things to know

The Union Asset Management Company Private Limited has launched an open-ended Union Retirement Fund. It is an open-ended retirement solution oriented scheme having a lock-in of 5 years or till retirement age (whichever is earlier). G. Pradeepkumar, Chief Executive Officer (CEO) of Union AMC said “Union Retirement Fund is not just an NFO. It is a bugle that calls for serious introspection amongst all stakeholders to dovetail Aspiration planning with Financial planning. Renewment planning is how one meticulously plans for Freedom in a disciplined manner. It goes beyond just planning for the pursuit or accumulation of wealth.”

Here is all you need to know about Union Retirement Fund NFO:

1) The New Fund Offer (NFO) of the scheme which opened today, 1st September 2022 will close on 15th September 2022.

2) The minimum investment required is 1,000 and in multiples of Rs. 1 thereafter.

3) The allotment date will be 22nd September 2022 and the Scheme will re-open for ongoing sale and repurchase on 29th September 2022. 

4) The Scheme is benchmarked against S&P BSE 500 Index (TRI) and will be managed by Vinay Paharia and Sanjay Bembalkar.

5) Union AMC started its operations in 2011. It is co-sponsored by Union Bank of India and Dai-ichi Life Holdings. Union AMC currently manages nineteen open ended Schemes of which eight are categorized as Equity Schemes, seven as Debt Schemes and four as Hybrid Schemes.

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