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Union Mutual Fund
- AUM ₹10,765 Crs
- No. of schemes 21
- AMC Age 13 yrs
About Union Mutual Fund
Union Mutual Fund is sponsored by Union Bank of India and Dai-ichi Life Holdings, Inc. Union Bank of India is an Indian public sector bank. Dai-ichi Life is a Japan-based financial services company engaged in insurance and asset management businesses.
Union Mutual Fund was started as a partnership between Union Bank and KBC Participations Renta, a 100% subsidiary of KBC Asset Management NV. At that time, Union Mutual Fund was known as Union KBC Mutual Fund. In 2016, the Union Bank of India bought the shares with KBC Asset Management, and the name was changed to Union Mutual Fund. Later in 2018, Dai-ichi Life invested in the fund house to the extent of 39.62%.
Union Mutual Fund was registered with SEBI in November 2016. Till Feb 28th, 2023, the fund house's assets under management (AUM) stood at Rs 9,989 Crore, accounting for 0.24% of the Mutual Fund industry's total AUM.
- Union Mutual Fund offers around 21 mutual fund schemes, of which 9 are equity schemes, 5 are debt schemes, and 7 are hybrid schemes.
- The vision of Union Mutual Fund is: Be the bridge of opportunity for investors to achieve sustainable prosperity through responsible investing in the capital markets.
- Top performing mutual fund schemes of Union Mutual Fund (as of Apr 30, 2023): Union Balanced Advantage Fund, Union Liquid Fund, Union Flexi Cap Fund
Top Union Mutual Funds
View All Funds
Fund Size
₹1,654 Crs
5 Yrs Return
11.53% p.a.
ETM Rank
#5 of 14 in Dynamic Asset Allocation
Fund Size
₹454 Crs
3 Yrs Return
4.57% p.a.
ETM Rank
#13 of 13 in Corporate Bond
Fund Size
₹93 Crs
3 Yrs Return
3.76% p.a.
ETM Rank
#19 of 19 in Dynamic Bond
Union Mutual Funds Returns Calculator
See what your investment would have yielded in
Invested ₹ 6 Lakh
Profit ₹ 3.33 Lakh
₹ 9.33 Lakh
This fund has generated an XIRR of 28.35% over the past 5 Years
SIP Calculator
Mutual Fund Calculator
Lumpsum CalculatorKey Information
| Mutual Fund Name | Union Mutual Fund |
| Founded | Dec 30, 2009 |
| Trustee Organisation | Union Trustee Company Pvt.Ltd. |
| MD and CEO | G Pradeep Kumar |
| Compliance Officer |
Documents required to invest in Union Mutual Fund
The documents for KYC (Know Your Client) include proof of address and proof of identity. Here is a list of officially valid documents (OVD) admissible.
PROOF OF IDENTITY
- PAN Card (Mandatory)
- Voter ID Card
- Driving License
- Passport
- Aadhaar Card
- Any other valid identity card issued by Central or State Government
PROOF OF ADDRESS
- Voter ID Card
- Driving License
- Passport
- Ration Card
- Aadhaar Card
- Bank account statement or bank passbook
- Utility bills like electricity or gas bills
While these are some of the standard document list, submitting all of these documents is a tedious process and can procrastinate your plan of investing. This is where ET Money offers you a paperless and fast solution.
You can submit your KYC in under two minutes by uploading the photos of your identity and address proofs. This includes PAN and any one of Aadhaar, Voter ID, Driving License & Passport along with your signature, a selfie and a live video, authenticating your identity. ET Money's quick KYC application makes investing easy and hassle-free.
It takes about 3-5 working days to get your KYC verified as the verification is done by government certified agencies.
How to Invest in schemes of Union Mutual Fund?
There are three ways to invest in Union Mutual Fund's schemes:
1. Through AMC's official website
2. Through a distributor
3. Through the ET Money platform
If you want to invest through the Union Mutual Fund website, you will need to sign up and create an account. Then follow the following steps.
But when you invest in multiple mutual funds from different AMCs, signing up with each fund house could be a hassle. It would also be challenging to track your investments and analyse them.
On the other hand, if you do the same through a distributor, you will pay a higher expense ratio because the distributor charges a commission on every investment. As a result, your returns will be lower. A much simpler, efficient and effective way of investing in schemes from Union Mutual Funds or any other fund house is through the ET Money platform.
All you need to do is sign up once and start investing in schemes from different AMCs. You can choose from various schemes of Union Mutual Fund, and that too, at the lowest expense ratio since ET Money is a direct investment platform. You can also track your existing portfolio on ET Money. You can view all your old and new investments in one place, making tracking and making better-informed decisions much simpler.
In addition to the above, the ET Money investment platform also offers valuable details like the fund's past performance, returns consistency, fund history, expense ratio, exit load, and other essential information.
How to invest in mutual funds via ET Money
- Sign up using email and OTP.
- Select fund. Enter the investment amount. Choose the investment type: one-time (Lumpsum) or SIP.
- Enter PAN, full name and verify mobile number.
- Enter bank account details and select payment mode. In the case of SIP, set up a mandate.
- Follow the KYC process, which includes a selfie and a live video. Provide essential details and eSign.
- The transaction is processed on verification of KYC documents.
Customer Care Details
For any query regarding any schemes offered by Union Mutual Fund, please contact at the following address:
| Registered Address | Unit 503, 5th Floor, Leela Business Park, Andheri Kurla Road, Andheri (East), Mumbai - 400059. Branch Timing (9 am - 6 pm) |
| Call us at | (022) 6748 3300 |
| investorcare@unionmf.com |
Frequently Asked Questions
Are Union Mutual Fund?s schemes safe for investing?
Union Mutual Fund is one of the well-known AMCs in India. However, no Asset Management Company can guarantee your capital?s safety because they invest in market-linked investments. Thus, you need to check scheme-related documents and analyse past performances and other metrics before investing.
Which Union Mutual Fund scheme is best for the short term?
In investing parlance, short-term investment refers to an investment timespan of 3-years. Debt funds are considered best if you are looking for a short-term scheme of Union Mutual Fund. If you are investing in a debt fund, you must match your investment horizon with the fund?s average portfolio maturity. Suppose, you want to invest in a mutual fund for a few days. In that case, you can consider overnight funds. Liquid funds will be suitable for investment if you want to invest for up to 3-months. Low-duration funds are required to hold financial instruments that have an average maturity that ranges from 6-to-12 months. Short-duration funds usually hold assets that mature from 1-to-3 years.
Are Union Mutual Fund Schemes Tax-Free?
When you invest in any mutual fund scheme, capital gains tax is levied on the capital gains you make in the short-term and long-term. The extent of capital gains tax levied upon you depends on the type of fund you invest in and the period of investment.
Mutual fund type | Holding period | Type of capital gains tax | Tax liability |
Debt-oriented funds | Less than 36 months | Short-term capital gains | As per the investor's income tax slab rate |
Equity-oriented funds | Less than 12 months | Short-term capital gains | 15% |
Debt-oriented funds | Greater than 36 months | Long-term capital gains | 20% with indexation |
Equity-oriented funds | Greater than 12 months | Long-term capital gains | 10% for amount exceeding Rs 1 Lakh |
How can I cancel the ongoing SIP in a Union Mutual Fund scheme?
If you wish to discontinue your ongoing SIP with Union MF, you must visit the mutual fund's official website or the online investing portal you used to create the SIP mandate. Log in to your account and select the investment you wish to cancel. Follow the instructions to stop the SIP. You can also visit the AMC branch and submit a request to discontinue the SIP.
- On ET Money app or website, click on the profile icon and select SIPs/MySIP option.
- In this section, you will see all the ongoing SIPs.
- Click on any SIP to open a detailed view.
- On the top right corner, click the three dots, which will take you to the Modify SIP screen.
- You will see the "Cancel this SIP" option below.
- Once you click it, you will receive an OTP.
- On entering the correct OTP, SIP will be cancelled.
How can I get the Union Mutual Fund statement?
One option is to log on to Union Mutual Fund's website and request a statement. You can also go to CAMS Online or Kfintech and request a consolidated statement by email.
A better option is to get a statement on ET Money. Once you request a statement on ET Money, the platform creates a customised dashboard for you. Whenever you wish, you can then check your entire portfolio just by logging onto ET Money.
On the website, hover on the profile icon on the top right after signing up. Select the option "Track external mutual funds" from the drop-down menu. Complete the process, and you can see your portfolio on the ET Money platform. This is a one-time process. Every time you want to track or check your portfolio, log onto ET Money, which will display a dashboard showing your entire portfolio and its performance.
To access on app, click the following link after logging in: https://etmoney.onelink.me/unJQ/oq97j0iz
How Can I Increase the SIP amount in a Union Mutual Fund Scheme?
You can increase your SIP amount in a Union Mutual Fund scheme in two ways. The first way of increasing your SIP amount is at the time when you start your SIP. At that time, simply select the top-up SIP option. This option enables you to increase your SIP amount either by a predefined amount (say, Rs. 2,000) or by a predefined percentage (say 5%) at regular intervals (say, once every year or once every 3-months). If you haven?t chosen the top-up SIP option at the beginning of your investment, you can increase your investment amount by starting a new SIP in the same mutual fund scheme.
Data Sources include ACE MF, AMFI and Fund House?s website.
