| Union Mutual Fund has unveiled a new fund named as Union Focused Largecap Fund, an open ended equity scheme. The New Fund Offer (NFO) price for the scheme is Rs 10 per unit. The new issue is open for subscription from 20 April and closes subscription on 28 April 2017.
The investment objective of the scheme is to seek to generate capital appreciation by investing in a portfolio of select equity and equity linked securities of large cap companies.
The scheme shall offer two options i.e. growth and dividend option under both regular and direct plan. Dividend has dividend re-investment, dividend payout and dividend sweep facility.
The scheme shall invest 80-100% of assets in equity & equity related instruments with high risk profile and invest upto 20% of asset in debt, money market instruments and cash equivalent with low risk profile.
The minimum application amount is Rs 5000 and in multiples of Re 1 thereafter.
The fund seeks to collect a minimum subscription (minimum target) amount of Rs 10 crore under the scheme during the NFO period.
Entry load: Nil
Exit load: 1% if units are redeemed / switched out within 1 year from the date of allotment. Nil thereafter.
The performance of the scheme will be benchmarked against S&P BSE 100 Index
Ashish Ranawade is the fund manager of the scheme.
|