The Business Bytes
TBB BUREAU
BHUBANESWAR, JULY 18, 2022
Union Asset Management Company Pvt Ltd, co-sponsored by Union Bank of India and Dai-ichi Life Holdings, Inc, has announced the launch of Union Gilt Fund. It is an open-ended debt scheme investing a minimum of 80% of its total assets in government securities (across maturities).
The New Fund Offer (NFO) of Union Gilt Fund will open for subscription on 18th July 2022 and close on 1st August 2022. The allotment date will be 8th August 2022 and the ccheme will re-open for ongoing sale and repurchase on 17th August 2022.
The scheme is benchmarked against CRISIL Dynamic Gilt Index and will be managed by Parijat Agrawal and Anindya Sarkar. The minimum investment required is Rs 1,000 and in multiples of Rs 1 thereafter.
Commenting on the launch, G. Pradeepkumar, Chief Executive Officer (CEO), Union Asset Management Company Pvt Ltd, said, “The launch of Union Gilt Fund is in line with our constant endeavor to offer products that help our investors in wealth creation. With this the scheme’s introduction, our debt product basket now offers schemes with varied credit and duration risk. We believe this scheme will serve all such investors who are looking for credit risk-free returns over a period of three years or more.”
