Union Mutual Fund’s sponsor is a joint venture between Union Bank of India and Dai-ichi Life Holdings, Inc. Union Bank of India is one of the leading public sector banks in India. Dai-ichi Life Holdings Inc. is a Japanese company listed on the Tokyo Stock Exchange. Dai-ichi Life is a financial services firm in insurance and asset management business globally.Union Mutual Fund partnered with Belgium based KBC Asset Management NV – a premium AMC based in Belgium to start ‘Union KBC Mutual Fund.’ In 2016, the Union Bank of India bought the shares with KBC Asset Management, later in 2018, Dai-ichi Life invested in the fund house.Union Mutual Fund offers around 23 mutual fund schemes in various categories such as equity, debt, hybrid and others.The AMC manages an Average AUM of Rs. 16,111.46 Cr as of June 2024.
To invest in Union Mutual Fund schemes, there is no physical documentation required. You need to upload the following KYC documents online:
Proof of Identity (PAN, Aadhaar)
Proof of Address (Aadhaar)
How to Invest in Union Mutual Fund
Step 1: Download the Rupeezy App if you do not have an account.
Step 2: If you are a first-time user, you need to submit your KYC documents like PAN, Aadhaar, add personal details, and complete the account verification.
Step 3: Select Union Mutual Fund and review the scheme list in each category.
Step 4: Assess the funds' performance and risk parameters.
Step 5: Select the appropriate category as per your financial goal and risk appetite.
Step 6: Compare the selected fund with other funds in its category using Smart Explore on a visual graph.
Step 7: Check fund portfolio overlap among all funds in your portfolio. Check the fund impact on your overall portfolio with the Impact Analysis feature.
Step 8: Select the fund, add lumpsum, or SIP, and set up payment with UPI or net banking.
Union Mutual Fund FAQs
Ans: Yes, Union Mutual Fund mutual fund schemes are considered safe investments. In India, all Asset Management Companies (AMC), including Union Mutual Fund, are regulated by SEBI (Securities and Exchange Board of India) and AMFI (Association of Mutual Funds in India). The mutual fund industry operates under strict regulations to safeguard investors' interests. However, it's crucial for investors to conduct thorough research to ensure that the specific fund schemes align with their financial goals and risk tolerance.
Ans: Union Mutual Fund Mutual Fund schemes are not tax free. Mutual fund capital gains are subject to capital gains tax. In the case of equity mutual funds, mutual fund units sold within a year of purchase will attract a 20% tax on profits. Gains from mutual funds held for more than a year are taxed at 12.5%. For debt funds, the debt fund units sold within three years will be taxed as per the income tax slab. For debt funds held for over three years, the tax rate is 12.5% without indexation benefits.
Here are some of the best-performing funds from Union Mutual Fund AMC based on past 5-year returns:
Fund Name
5-Year Return (%)
Union Overnight Fund
4.79%
Union Money Market Fund
0%
Union Liquid Fund
5.33%
Union Arbitrage Fund
5.22%
Union Medium Duration Fund
0%
Ans: Yes, Union Mutual Fund AMC is good for long-term capital appreciation. The equity schemes under the AMC have performed well over the long term and delivered returns above the category average. Visit the Rupeezy Invest App to check Union Mutual Fund AMC fund performance.
Ans: You can log in to your Rupeezy app and view your portfolio which will show you the current value as per the prevailing NAV on the last closing business day.
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