Union MF to launch Focused Fund

By Morningstar |  09-07-19 | 
 

Union Mutual Fund is set to launch its Focused Fund which opens for subscription on July 15 and closes on July 29. As the name suggests, the fund will hold a concentrated stock of up to 30 high conviction stocks across market capitalization.

Vinay Paharia, CIO, Union Mutual Fund, said that he is currently bullish on sectors like industrials, utility and consumer discretionary. “There are headwinds like slowdown in consumption and trade war but we believe the falling interest rates will cushion these headwinds. The fund will filter stocks based on BMV (Business, Valuation and Management) and will be bucketed under two categories – growth and bargain. We don’t invest in companies which are below Rs 500 crore market cap.”

The fund will remain invested in equities at all times and avoid taking asset allocation call. The fund will adopt bottom up and top down approach in identifying stocks. The fund house tracks a universe of 150 stocks which fits its fair value filter.

Benchmarked against S&PBSE 500 Index TRI, the fund will charge an exit load of 1% for redemptions up to 1 year. The fund will be managed by Vinay Paharia.

As on April-June 2019, Union MF manages assets worth Rs 4,307 crore.

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