Union MF introduces Active Momentum Fund
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Union Mutual Fund has launched Union Active Momentum Fund, an open-ended equity scheme following momentum theme. The NFO opens for subscription on November 28, 2024 and closes on December 12, 2024. No Entry Load shall be charged for the scheme. The Exit load will be 1% if redeemed or switched out on or before completion of 1 year from the date of allotment of units; and Nil if redeemed or switched out after completion of 1 year from the date of allotment of units. The minimum subscription amount is Rs 1000 and multiple of Rs 1 thereafter.
The performance of the scheme will be benchmarked at Nifty 500 Index TR and its fund managers are Gaurav Chopra and Sanjay Bembalkar.
The investment objective of the scheme is to seek to generate long-term capital appreciation by investing in stocks showing strong momentum. Momentum stocks are such that exhibit relatively superior price momentum - based on the phenomenon that stocks which have performed well in the past relative to other stocks (winners) continue to perform well in the future, and stocks that have performed relatively poorly (losers) continue to perform poorly.
