Union Mutual Fund has launched an open-ended equity fund called Union Value Discovery Fund which opened for subscription on November 14 and closes on November 28.
Benchmarked against S&P BSE 200 Index, the fund will be managed by Vinay Paharia.
Union Value Discovery Fund will predominantly invest in stocks that are are temporarily out of favour, under-owned or turnaround companies. Portfolio construction would be driven largely by bottom up stock selection. The scheme portfolio would be diversified, and investment would be made across market capitalization.
The fund house currently manages assets worth Rs 4,910 crore as on September 2018.
