NFO Alert: Union Mutual Fund launches short-duration fund
Union Mutual Fund has launched Union Short Duration fund, an open-ended short-term debt scheme investing in instruments such that the Macaulay duration of the portfolio is between one year to three years with a high-interest rate risk and moderate credit risk.
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The Union Short Duration Fund NFO will open for subscriptions on January 15 and close on January 28 and will re-open within five business days from allotment.
Debt funds, including Short Duration funds, besides accrual returns, offer the potential for mark-to-market gains when interest rates decline. Short-duration funds relatively stand out as an appealing option for those seeking to invest in debt and money market securities for a moderate period of 12 to 18 months.
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As per AMFI data, short-duration funds currently have 23 schemes with net assets under management of Rs 113,266 crore as of December 31, 2024. Based on SEBI guidelines, these funds maintain a Macaulay Duration between one and three years, which aims to maintain low to moderate sensitivity to interest rate fluctuations.
The fund will be managed by Anindya Sarkar and Shrenuj Parekh.
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