NFO Alert: Union Mutual Fund launches Union Children’s Fund; all you need to know

livemint.com:

Union Mutual Fund announced the launch of the Union Children’s Fund, an open-ended equity scheme following a solution-oriented theme.

The scheme opened for public subscription on November 28, 2023, and will close on December 12, 2023. The scheme re-opens for continuous sale and repurchase within five days from the date of allotment.

This is an open-ended equity fund for investment for children, having a lock-in for at least five years or till the child attains the age of majority (whichever is earlier).

G. Pradeepkumar, Chief Executive Officer, Union AMC, said, “We are excited to announce the launch of Union Children’s Fund. At a time when inflation is on the rise, it has become challenging for people to invest in their children’s future needs. In this scenario, imagine a future where each child’s dreams have no limits, where his/her potential is nurtured, and where every milestone is supported with unwavering love and financial well-being. That’s exactly what Union Children’s Fund aims for – to help you plan for your child’s bright future. This investment can be a tangible expression of your love and commitment towards your child."

The scheme aims to achieve long-term capital appreciation by investing in a diversified portfolio of securities, including equity, equity-related instruments, and debt instruments, in accordance with its specified asset allocation. This is intended to offer investors an investment solution. It is important to note, however, that there is no guarantee that the scheme will successfully meet its investment objective.

Investors can invest under the scheme with a minimum investment of ₹1000 per plan/option and in multiples of Re 1. There is no upper limit for investment.

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