Union Mutual Fund has launched Union Arbitrage Fund, an open ended scheme investing in arbitrage opportunities between spot and futures prices of exchange traded equities and the arbitrage opportunities available within the derivative segment.
The fund is ideally suited for investors looking to park short term money with moderately low risk appetite and investment horizon of at least three months.
There will no exit load after a month.
In a press release, the fund house said, “From amongst various strategies available, the scheme will also adopt index arbitrage, calendar spread arbitrage or arbitrage strategies driven by corporate action or event driven strategies.”
Vishal Thakkar will manage equity portion while Devesh Thacker will look at debt portion.