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Union Mutual Fund has launched ‘Union Multi Asset Allocation Fund,’ an open-ended scheme that will invest in a mix of assets including equity, debt, money markets, gold and silver ETFs, REITs and InvITs.
The fund will invest around 65-80% of its assets in equity and related instruments, 10-25% in debt and money market instruments and 10-25% in gold ETFs.
In a press release, Madhu Nair, CEO, Union Mutual Fund, said, “A diversified asset allocation strategy over the long term would provide superior risk-adjusted returns, rather than chasing asset classes during periods of euphoria. The fund offers investors the opportunity to participate in all asset class cycles, making it one of the strong candidates for inclusion in every investor's portfolio.”
Harshad Patwardhan, CIO, Union Mutual Fund, said, “We believe that local equity markets are expected to continue to maintain strong growth momentum in coming years due to robust economic fundamentals, diversification into gold and debt would help investors to capture the underlying strength of both the asset classes in the coming years and also guard them from the volatility in equity markets.”
Hardick Bora (Co-Head Equity), Sanjay Bembalkar (Co-Head Equity) and Anindya Sarkar (Fund Manager – Fixed Income will co-manage the scheme.
