Union AMC opens new Union Retirement Fund, NFO to open on 1 September

Union Asset Management Company has announced that it will be opening a new retirement fund for customers. The company’s Union Retirement Fund is an open-ended retirement scheme. The scheme comes with a lock-in period of five years or till the age of superannuation, whichever comes earlier. The New Fund Offer for the retirement fund opens on 1 September and the NFO will close on 15 September. Investors need to make a minimum investment of Rs 1,000 with further investments being made in multiples of 1. The units of the mutual fund will be allotted on 22 September and the scheme will open for repurchase and sales from 29 September. “Union Retirement Fund is not just an NFO. It is a bugle that calls for serious introspection amongst all stakeholders to dovetail aspiration planning with financial planning. Renewment planning is how one meticulously plans for Freedom in a disciplined manner. It goes beyond just planning for the pursuit or accumulation of wealth,” said G Pradeepkumar, Chief Executive Officer, Union AMC. The investment allocation of the fund is a balanced one – with 65 to 100 percent of the fund’s assets being allocated to equity and the remainder being invested in debt and money market instruments. The fund is managed by Vinay Paharia and Sanjay Bembalkar, while being indexed against S&P BSE 500 Index (TRI). The fund’s goal is to create long-term investment growth through capital gains in equity while balancing risks through investments in debt and money market instruments. A retirement fund allows investors to either receive a regular fixed income or a lump sum amount at the time of retirement. The earlier an investor starts planning and saving for their retirement, the bigger the corpus they will have at retirement in most circumstances. Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.