Union Mutual Fund Initiates Overnight Fund NFO

Union Mutual Fund has initiated a New Fund Offer (NFO) for Union Overnight Fund. The NFO period begins on March 26, 2019 and will close on March 26, 2019. The scheme will reopen for continuous purchase and redemptions on March 28, 2019. This overnight scheme aims to provide income to its investors over the short term by investing in debt and money market instruments maturing in 1 business day.

Asset Allocation of Union Overnight Fund

Under normal circumstances, the Union Overnight Fund will allocate its assets in the following manner:

The scheme intends to invest in repo/reverse repo transactions in corporate debt securities. However, it does not intend to invest in securitized debt, derivatives, overseas/foreign securities or engage in stock lending or short selling or participate in credit default swap transactions.

Benchmark of Union Overnight Fund

The performance of the Union Overnight Fund will be benchmarked against CRISIL Overnight Index. The return details of the index are as follows:

(Data as on February 28, 2019; Source: CRISIL)

Fund Managers of Union Overnight Fund

The Union Overnight Fund will be jointly managed by Mr. Tarun Singh and Mr. Devesh Thacker. Other schemes being managed by Mr. Thacker include Union Liquid Fund and Union Dynamic Bond Fund. The return details of these schemes are as follows:

(The above data is for the direct variant of the schemes as on March 25  2019; Source: Value Research)

Key information about Union Overnight Fund NFO