Union Mutual Fund files offer document for Consumption Fund
Union Mutual Fund has filed offer document with SEBI to launch an open-ended equity scheme named ‘Union Consumption Fund’. The New Fund Offer price for units would be Rs 10 per unit as on the date of allotment. 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 Scheme offers Growth Option and Income Distribution Cum Capital Withdrawal Option for investment and seeks to collect a Minimum Target Amount of Rs 10 crores.
The performance of the scheme will be benchmarked against Nifty India Consumption TRI. The minimum application amount is Rs 1,000 and in multiples of Rs 1 thereafter.
The investment objective of the scheme is to generate long-term capital appreciation by investing in companies those are engaged in consumption and consumption related sector or allied sectors. These companies are expected to directly or indirectly benefit from changing consumer aspirations, changing lifestyle and overall growth in consumption led demand.
