Union Mutual Fund files offer document for Innovation Fundm
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Union Mutual Fund has filed offer document with SEBI to launch an open-ended equity scheme named ‘Union Innovation Fund ’. The New Fund Offer price is Rs 10 per unit. Entry load will be nil and Exit load will be 1% if units are redeemed/switched out on or before completion of 1 year from the date of allotment. Nil if redeemed or switched out after completion of 1 year from the date of allotment of units. The scheme offers growth and dividend options for investment and seeks to collect a Minimum Target Amount of Rs 10 crore.
The performance of the scheme will be benchmarked by S&P BSE 500 TRI. The minimum application amount is Rs 5,000 and in multiples of Re 1.
The investment objective of the scheme is to achieve long term capital appreciation by investing predominantly in equity and equity related securities of Innovative Companies.
