Union AMC today announced the inauguration of its first branch in North East atGuwahati at Ganpati Enclave, Opp. Bora Service by Mr. G Pradeepkumar, Chief Executive Officer (CEO) of Union AMC in presence of Mr. Saurabh Jain, Chief Marketing Officer, Naveen Sharma, Regional Head of Sales – East and Neepjyoti Saikia, Branch Head. Union AMC is co- sponsored by Union Bank of India and Dai-ichi Life Holdings, Inc. of Japan. Union AMChas also launched a New Fund, Union Multicap Fund.The branch openingat Guwahati has been coincided with the new fund launch to help enhance the service provided to investors of Assam and other parts of North East. Union Multicap Fund, is an open-ended equity scheme which aims toprovide capital appreciation by investing in equity and equity related securitiesacrossmarketcapitalization in a disciplined manner. The Scheme aims to benefit from higher growth potential offered by mid and small caps coupled with lesser volatility via large caps.
Speaking on the occasion G. Pradeepkumar, CEO, Union AMCsaid, “We believe that discipline is key to achieving more especially when it comes to investments and through Union Multicap Fund, our new fund offering, we aim to deliver capital appreciation over the long run.Empirical data shows that different market caps perform differently in different periods and it is not easy to gauge which segment will outperform and which will underperform. Union Multicap Fund, endeavors to enable investors to navigate across market caps and provide true diversification by following a disciplined investment approach which ensures that the fund is not over invested in any particular market capitalisation at any point in time”.
Saurabh Jain , Chief Marketing Officer (CMO) Union AMC said, “ We are very happy to open our new office in Guwahati alongwiththe launch of ournew scheme,Union MulticapFund. The Indian Mutual Fund Industry has grown from ₹ 7.68 trillion as on October 31, 2012 to ₹39.50 trillion as on October 31, 2022 more than 5 fold increase in a span of 10 years. The Average Assets under Management (AAUM) of Mutual Fund industry in Assam is Rs. 20,600 crores &it is 6% of its Gross Domestic Product (AMFI data as of October 2022). We believe there is a huge opportunity for increasing mutual fund penetration in the North East and our branch opening in Guwahati is our first step in that direction. Union Multicap Fund, the new fund offering aims to follow a mix of top-down and bottom-upapproach to identify opportunities in large, mid and small cap space. The Scheme will be benchmarked against NIFTY 500 Multicap 50:25:25 TRI#.The stockselectionwill be based on “Fair Value” approach.The minimum investment required is Rs. 1,000 and in multiples of Rs. 1 thereafter .Union Multicap Fund would follow a disciplined approach to investing with allocation to equities across capitalization (Large cap, Mid cap and Small cap) with a minimum allocation of 25% to each category and remaining 25% could be allocated to equities across capitalisation or in debt & money market instruments etc. as mentioned in the Scheme Information Document (SID) of the Scheme. Union Mutual Fund started its operations in 2011. It is co-sponsored by Union Bank of India and Dai-ichi Life Holdings, Inc. Union Bank of India is one of the leading public sector banks in India and is headquartered in Mumbai. Dai-ichi Life Holdings, Inc. (“Dai-ichi Life”) is a stock company with limited liability, incorporated under the laws of Japan in the year 1902 and listed on the Tokyo Stock Exchange. Dai-ichi Life is a financial service holding company engaged in carrying out both insurance and non-insurance (including asset management) businesses through various subsidiaries and associate companies. Union AMC currently manages twenty open ended Schemes of which eight are categorized as Equity Schemes, seven as Debt Schemes, four as Hybrid Schemes and oneSolution Oriented Scheme.
