Union AMC launches Union Hybrid Equity Fund

Union AMC has announced the launch of Union Hybrid Equity Fund, an open-ended hybrid scheme investing predominantly in equity and equity-related instruments. The scheme will invest a minimum 65% in equity and a maximum 35% in debt instruments. The minimum investment required is Rs 5,000 and in multiples of Re 1 thereafter.

The New Fund Offer (NFO) of the scheme opens on November 27 and closes for subscriptions on December 11, 2020.

The scheme is benchmarked against CRISIL Hybrid 35+65 Aggressive Index (TRI). It will be managed by Vinay Paharia, Parijat Agrawal and Hardik Bora.

“Among other things, prudent asset allocation forms the bedrock of a successful investment outcome. Different asset classes do not generally move in tandem and hence taking exposure to Union Hybrid Equity Fund which inherently offers a combination of equity and debt can be a good choice for investors looking for a balanced approach to asset allocation,” said G. Pradeepkumar, Chief Executive Officer (CEO), Union Asset Management Company Private Limited.

“This scheme shall endeavour to maintain a judicious mix of equity and debt within the overall limits allowed for this category. All investment decisions in this scheme portfolio will be guided by our strong investment process,” Pradeepkumar added.